President-elect Donald Trump has reportedly launched a new Solana-based memecoin during the early Asian trading hours today. Notably, the token launch was a surprise with no prior launch details. The new TRUMP memecoin has made its market debut just 3 days ahead of being sworn in for his second term in the White House.
With this, the social trend for this memecoin skyrocketed. Further, the crypto community fled the internet with questions like “How to buy Trump Coin?” and “Where to buy Trump Coin?” In this article, we uncover the Tokenomics and fundamentals of the latest viral Solana-based memecoin.
Following the news, traders stacked the TRUMP coin immediately. This resulted in the memecoin experiencing hundreds of millions of dollars worth of trading volume within the first few hours. While some speculated it to be a red flag, Trump’s “X” and “Truth Social” posts cleared all doubts and it appears that this is a legitimate Trump meme coin launch.
The launch confirmation expressed immediate excitement, confusion, and skepticism in the cryptocurrency space. The prime reason as this is a familiar hallmark of many celebrity meme coin scams that have launched in the market recently.
The latest TRUMP coin has already achieved a market capitalization of $4.15 billion. With a 24-hour trading volume of $3.31 billion, this meme coin has already soared over 185% from its all-time low (ATL) of $6.24. This has resulted in it securing the 41st position in the global crypto list.
As per the latest reports, the top 5 holders are accountable for a total of 85.71% of the entire supply. Moreover, the largest account holds 80% of the supply valued at around $10.68 billion. The combined valuation of 85.71% is accounted to be as high as $11.444 billion.
Considering the present market sentiment and tokenomics of the project, it is presently under the market radar and is being closely watched by the top marketers. Fundamental updates and whitepaper releases could push the TRUMP memecoin price much higher in the coming time.
However, a promotional strategy or a pump-and-dump scheme could not be blurred as the crypto market has witnessed numerous such events over the past years. Such a case could potentially pull the price toward a new ATL within a short time.
The Trump memecoin can be bought by swapping RAY and JUP tokens on the Solana chain.
The TRUMP is a newly launched Solana-based memecoin backed by President-elect Donald Trump. It has gained massive attention due to its surprise launch and a price rally of over 185%.
It is too early to predict the reliability of the memecoin. Investors are suggested to wait for the release of whitepapers, and other notable updates.
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