Will Trump Memecoin Follow the Trend of “Buy the Rumor, Sell the News”?
Story Highlights
Donald Trump has launched a new Solana-based memecoin Official Trump ($TRUMP).
The token experienced increased price action, however, marketers remain skeptical.
Experts remain uncertain about the TRUMP token’s long-term value, speculations rise of a Pump-And-Dump situation.
Donald Trump’s latest foray into the cryptocurrency industry, through his Solana-based memecoin “Official Trump” ($TRUMP), has generated both excitement and doubt among marketers. The token’s 185% price surge and $4 billion valuation have prompted experts to question its future prospects amid concerns of a potential pump-and-dump scenario.
With 80% of the tokens currently locked and a gradual release schedule in place, the market is closely monitoring the price and underlying principles of the $TRUMP token in anticipation of Trump’s inauguration ceremony. While supporters see promise in its potential, critics draw parallels to past volatile political tokens. Is $TRUMP a bold investment or a passing fad? The unfolding narrative is detailed in this report.
TRUMP’s History With Cryptocurrencies!
In recent years, Donald Trump has advocated for cryptocurrencies, and notably launched his own line of NFT collections between 2022 and 2024. Additionally, Trump has shown support for a Decentralized Finance (DeFi) platform named World Liberty Financial ($WLFI).
Following his upcoming inauguration on January 20th, Trump is anticipated to issue an executive order related to cryptocurrency, potentially marking the beginning of significant changes in the American crypto landscape.
Is TRUMP Token A Pump & Dump Situation?
The cryptocurrency market faced a concerning pump-and-dump incident during the election day, with PolitiFi (Political Memecoins) experiencing a substantial price drop where top tokens plummeted by approximately 60% within hours. Similar concerns arise as the memecoin enters the market, with only three days left until President-elect Donald Trump’s second inauguration. Marketers speculate that a situation akin to the election day turmoil might unfold.
Of the 1 billion TRUMP coins, 80% are currently locked and are set to gradually unlock over a three-year period. Consequently, the circulating supply would be limited to 200 million tokens, bringing the market cap close to $4.05 billion. Furthermore, trading volume has surged to over $3 billion, signaling heightened price activity.
Analyst View On The New TRUMP Token Launch!
Cygaar, a prominent software engineer with over 117,100 followers, has noted similarities between the new coin’s official website and the platforms used to promote his NFTs. The website is attributed to CIC Digital, the same entity that holds the official license for Donald Trump’s NFTs.
He expressed his belief that the new TRUMP memecoin website closely mirrors his prior NFT website, raising initial suspicions. He concluded by stating, “Either this is the greatest cyber heist of all time, or this is legitimate.”
Tags: Crypto news, Meme Coins