On the morning of January 18, the cryptocurrency market once again witnessed a milestone event - the incoming US President Trump himself launched a cryptocurrency!
At exactly 10:00, Trump first posted on his social media platform Truth Social, announcing the launch of his personal Meme Coin TRUMP, and instructed users to visit the website "GetTrumpMemes.com" to purchase the token.
Although the market was initially unsure whether this was actually Trump himself or a malicious takeover of his social media account, under the frenzy of FOMO sentiment, the token still embarked on a skyrocketing journey, with its market capitalization surging past $2 billion.
Subsequently, at 10:44, Trump again posted the same content on his personal X account, at which point the market had basically ruled out the possibility of a hacked account, and although it is extremely unbelievable, the reality seems to be just that - the US President has personally launched a cryptocurrency!!!
However, given the sheer magnitude of this event, the community's investigation has not stopped.
On-chain observers have found that the deployment address of the token seems to have received funds from Binance and Gate, two major exchanges that do not support the US market.
However, cygaar, a contributor to Abstract, has investigated and found that the deployment characteristics of the TRUMP website are almost identical to those of Trump's previous NFT website. The two websites have the same Cloudflare settings, the same Heroku deployment, the same SSL certificate issuer... The HTML structure is also very similar - cygaar even mocked that "only old people still deploy websites this way..."
Token Economic Model
According to the introduction on the "GetTrumpMemes.com" website, the initial purchase of TRUMP requires going through Moonshot, supporting traditional payment methods such as Apple Pay, Visa, Mastercard, Venmo, as well as cryptocurrency payment methods such as USDC and SOL.
Given that the TRUMP contract address has now been publicly disclosed (6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN) and the on-chain pool has accumulated to a scale of $17.7 million, it will now be more convenient for users to purchase directly on-chain.
TRUMP is issued on the Solana Chain, and the token is to commemorate Trump's heroic gesture of raising his fist and shouting the iconic battle cry "FIGHT FIGHT FIGHT" on July 13, 2024 after an assassination attempt. GetTrumpMemes aims to express support and participation in the ideals and beliefs represented by the "TRUMP" symbol and related artworks, and is not intended to be an investment opportunity, investment contract or any type of security. GetTrumpMemes is not political and is not related to any political campaign or any political office or government agency.
The total supply of TRUMP is 1 billion, but only 200 million will be circulating initially, with the remaining 800 million to be gradually unlocked over the next 3 years.
The "GetTrumpMemes.com" website shows that Trump Group's subsidiaries CIC Digital LLC and Fight Fight Fight LLC jointly own 80% of the Trump Cards (note: officially stated as such, but in context should refer to the TRUMP token), but subject to a 3-year unlocking plan. The owners of Fight Fight Fight LLC, CIC Digital LLC and Celebration Cards LLC, will receive the transaction revenue generated by the trading activity of the Trump Cards.
The specific distribution of TRUMP and the future unlocking progress are shown in the following images.
Real-time Market Conditions
GMGN data shows that as of 11:40, TRUMP is currently trading at $4.7, corresponding to a fully diluted market capitalization of over $47 billion; calculated based on a circulating supply of 200 million, the corresponding market capitalization has already exceeded $9 billion.
(Note: As of 13:18, the TRUMP market capitalization briefly touched $100 billion, currently reported at $95 billion)
Potential Positive and Negative Factors
Since TRUMP is issued on the Solana Chain, both the endorsement effect of the President and the current buying demand will undoubtedly directly benefit SOL.
Looking at the market trend over the past 1 hour, SOL has clearly strengthened in the short term under the influence of this event. OKX data shows that SOL is currently trading at 226.4 USDT, with a 24-hour increase of 6.73%.
However, at the same time, other Solana Chain meme concepts such as WIF, PUNT, and ai16z have generally shown a downward trend in the short term, seemingly being severely drained by TRUMP.
In addition, the downward trend is also evident in some other previously perceived TRUMP concept memes, such as the Ethereum-based MAGA (TRUMP), which has dropped more than 45% in the past 24 hours.
After all, the official version has now emerged, who would still play the "imitation"? Capital will inevitably turn to chase the more "orthodox" choice.
