There’s a lot of enthusiasm swirling around the crypto space following President-elect Donald Trump’s announcement of his own meme coin, titled “TRUMP.
Ever since its debut, the token has experienced considerable growth, becoming a fixture on prominent trading platforms as well as seeing a notable increase in transaction volume.
TRUMP Meme Coin Shakes Up the Market
On the 17th of January, Donald Trump introduced the TRUMP digital coin. Almost instantly, it started making waves. This meme-based currency rapidly picked up popularity, causing its market value to skyrocket beyond $13 billion in just a day.
As reported by CoinGecko, this token has experienced a significant rise in price, exceeding 130%. This has positioned it as the second-largest meme coin on the market, just behind Dogecoin. It has outperformed well-known coins like Shiba Inu and Pepe in terms of market worth. Currently, the token is being traded at around $63, showcasing its rapid surge in popularity.
The swift surge of the TRUMP token has drawn interest from well-known centralized and distributed trading platforms. Notably, major players like Binance, Coinbase, Kraken, and OKX have already made it available for trading.
Moreover, platforms for decentralized trading on the Solana blockchain, such as Raydium and Orca, have become active participants. This surge of activity has resulted in unprecedented trading volumes on Solana, with Raydium reporting over $25 million in fees and approximately $3 million in daily revenue, based on DefiLlama’s data.
Analysis of blockchain data suggests that the token’s performance has significantly influenced Donald Trump financially, as it is believed that entities connected to him own a substantial portion of the token’s total supply. This could potentially boost his personal wealth by billions.
According to Arkham Intelligence, an increase of $22 billion was added to Donald Trump’s net worth overnight, based on the assumption that CIC Digital LLC and Fight Fight Fight LLC, which together hold approximately 80% of the TRUMP token supply, are owned by him. At its current price of around $28, this stake is valued at approximately $22.4 billion. Previously, Forbes had estimated Trump’s net worth to be around $5.6 billion in November 2024. If this estimate is correct, the value of his memecoin holdings would represent a fivefold increase in his wealth.
Rumors of USA Coin Denied
With increasing focus on the TRUMP digital currency, whispers about a new cryptocurrency venture, called USA Coin, have begun to circulate.
Eric Trump, one of Donald Trump’s sons, has stated there is no link between the family and the rumored project. He highlighted that the Trump family are exclusively concentrating on the TRUMP token, with the aim of preventing any misunderstandings.
“$USA coin has nothing to do with us,” Eric Trump stated on X.
Eric Trump lauded the TRUMP token’s success, referring to it as the most popular memecoin worldwide. He also suggested upcoming strategies for the token, along with their DeFi endeavor World Liberty Financial, which he envisioned as a catalyst for change in both decentralized and traditional finance systems, ultimately shaping it into a groundbreaking influence within the financial sector.
Right now, Donald Trump is trending as the most popular internet meme globally, and I firmly think that WorldLibertyFi has the potential to transform both DeFi and Cefi, ultimately shaping the future of finance,” Eric Trump stated.
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2025-01-19 23:40