Trump Coin: Growth, Risks, and Investment Insight

In the potential cryptocurrency bull run, the newly launched Official Trump (TRUMP) meme coin is gaining widespread attention from crypto enthusiasts due to its impressive price surge. Today, January 18, 2024, United States President-elect and pro-crypto Donald Trump Donald Trump Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election President made a post on X (formerly Twitter) and revealed his new meme coin, named Official Trump (TRUMP).

TRUMP Price Performance

Since the post was published on X, it has gained widespread attention globally and attracted significant investors and traders, resulting in a TRUMP price surge from $4 to $35, which represents an increase of nearly 790% in less than 24 hours.

However, it seems that this new meme coin is consistently attracting new investors because it is linked to Donald Trump, who officially revealed the project to the crypto community. On the other hand, Trump is pro-crypto, and US citizens have elected him as the new president, with his presidential inauguration scheduled for January 20, 2025.

Looking at these factors, it appears that TRUMP could be the next big thing in the realm of cryptocurrency. However, this is the positive side that everyone is currently aware of.

Risk-Linked to TRUMP

Despite the significant attention from traders, investors, and crypto whales, one concern raising alarm is the distribution of TRUMP’s holdings. According to data from Phantom Wallet, the top 10 holders currently own 86.47% of the total supply, meaning there is a possibility of pump-and-dump schemes, price manipulation, and other potential risks.

Currently, there are only 200 million TRUMP coins in circulation, while the max supply is 999.99 million. This means that 800 million TRUMP meme coins have yet to be circulated, which could create selling pressure and lead to further price decline.

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$500 Million of TRUMP Sell-Off?

Besides this, a crypto expert named Conor recently made a post on X, noting that Trump has sold nearly $500 million worth of meme coins thus far. He further added that the Trump team controls 85% of the supply.

These are the pros and cons of the TRUMP meme coin, so make sure to conduct thorough research before going long or investing for the long term.