[NEWS] Could President-elect Trump officially issue the ‘TRUMP’ meme coin

It was revealed on the 18th that Donald Trump, the next President of the United States, has issued an official meme coin named after himself, called “TRUMP,” on the Solana (Solana) blockchain.

The announcement was initially made on Trump’s own social media platform, “Truth Social.” While there were initial suspicions of a hacking incident involving his account, confirmation soon followed on Trump’s X account, which increased the credibility of the announcement.

My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC

— Donald J. Trump (@realDonaldTrump) January 18, 2025

Right after its issuance, the price of TRUMP soared dramatically, climbing to more than 20 times its initial value and continuing to fluctuate wildly while reaching new highs.

TRUMP has a total supply of one billion tokens, with only 200 million released on the first day. The remaining 800 million tokens are scheduled to be gradually distributed into the market over the next three years.

While the coin has garnered significant attention, some market participants have voiced concerns about potential selling pressure, given that two Trump Group–affiliated companies, “CIC Digital LLC” and “Fighter Fight LLC,” are said to jointly hold about 80% of the total supply.

Moreover, it is important to remain cautious in light of a past incident on January 9, 2024, when the official X account of the U.S. Securities and Exchange Commission (SEC) was hacked, resulting in the posting of false information claiming that a spot Bitcoin ETF had been approved—an event that caused major confusion in the crypto market.

Just yesterday, it was reported that President-elect Trump plans to position cryptocurrencies as a policy priority and issue an executive order mandating that the next administration incorporate the views of industry stakeholders. Against this backdrop, the issuance of the meme coin has further inflamed excitement within the crypto market.

By purchasing and trading TRUMP, supporters could potentially strengthen their connections with one another, boost efforts to promote Trump’s brand, and form a new community united by the meme coin—a clear symbol of “support for Trump.”

Reference: Bloomberg
Image: Shutterstock

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