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Trump Launches Meme Token ‘TRUMP’ Amid Market Frenzy, $1.2B Cap in 30 Minutes
On January 17, President-elect Donald Trump took to X and Truth Social to unveil his first Solana-based meme coin, aptly named TRUMP. Upon its launch, the token debuted with an initial supply of 200 million tokens, with plans to gradually increase the total supply to 1 billion tokens over the next three years.
The United States’ 47th president-elect Donald Trump, a vocal advocate for cryptocurrency, made the announcement on his social media accounts, starting with a post on Truth Social that read: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community.”
Shortly after, Trump posted the same announcement on X, amplifying the buzz surrounding the launch. Notably, TRUMP is built on the Solana blockchain (SOL) and has generated an astonishing $1.2 billion market capitalization within just 30 minutes of its release.
The timing of the announcement is particularly significant, as it comes just days before Trump’s January 20 inauguration, with reports suggesting that one of his first presidential actions will be signing an executive order to prioritize cryptocurrency as a national focus. This directive includes requiring all government agencies to review and align their policies on digital assets, implementing a temporary pause on legal disputes involving major cryptocurrency firms like Binance and Ripple Labs, and establishing a national Bitcoin reserve to consolidate the U.S. government’s existing 200,000 BTC holdings.
The sudden surge in market capitalization has sparked both excitement and skepticism among crypto enthusiasts and investors alike. While some see this as an opportunity to capitalize on Trump’s influence, others are cautious due to the token’s lack of transparency and credibility.
Regardless of one’s stance on the matter, it is undeniable that TRUMP’s explosive launch has sent shockwaves throughout the cryptocurrency market, leading many to speculate about its potential future trajectory.
Source: www.crypto-news-flash.com
