Author: shaofaye123, Foresight News
On the morning of January 18th at 10 a.m., the Trump social media account launched a personal MEME coin TRUMP, and due to the lack of official news, the community once suspected that the account had been hacked.
Subsequently, TRUMP was launched on Moonshot, and the official Twitter account of Trump again promoted the TRUMP token. It reached $8 billion in speed, with a trading volume of over $1 billion, making it difficult to distinguish the true from the false, and it was All In to make money first.
Overview of Token Information
The TRUMP token image is derived from a photo taken on July 13, 2024, when Trump was assassinated and raised his hands, shouting the iconic battle cry "FIGHT".
GetTrumpMemes.com website states that Trump Memes aims to express support and participation in the ideals and beliefs embodied by the "TRUMP" symbol and related artworks, and is not intended to be an investment opportunity, investment contract or the subject of any type of security. Currently, it has been launched on Moonshot, supporting traditional payment methods such as Apple Pay, Visa, Mastercard, Venmo, and the on-chain trading volume has exceeded $10 million.
The total supply of TRUMP tokens is 1 billion, with 200 million in circulation, and the remaining 800 million will be gradually unlocked over the next 3 years. The Trump Group's subsidiaries CIC Digital LLC and Fight Fight Fight LLC jointly own 80% of TRUMP, but are 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 Trump Cards trading activity.
TRUMP Once Reached $8 Billion, While Other Related MEME Tokens Plummeted
After the token was launched, the market value rose sharply after a brief correction, breaking through $8 billion, and the trading volume exceeded $1.3 billion within 2 hours of its launch.
Some people became overnight millionaires, while others saw their positions halved. A number of smart money players made substantial profits in this trade, with dozens of addresses earning over $2 million in total profits on TRUMP. KOL 0xsun.sol spent 3,000 SOL ($653,000) to buy 999,895 TRUMP, and after selling 199,895 TRUMP, made a profit of nearly $4 million, with the address's unrealized gains still increasing.
However, other tokens on the chain are in a dismal state. Except for FIGHT, which rose over 40% and once had a market value of over $30 million, the rest of the related Memecoin tokens generally fell, with TRUMP dropping 25% and MAGA dropping 32%.
Real or Fake?
Since the launch of TRUMP, there have been many voices questioning the authenticity of the token. The token price has also fluctuated greatly, with a 300% swing in 3 minutes, and its market value, after reaching $2 billion, quickly fell back to around $70 million, before surging again to over $8 billion.
There is ongoing market controversy, with some FUDing it as a hacker attack. Market analyst TylerD posted on the X platform, analyzing that "the Trump Meme coin TRUMP is very likely a hacker attack based on the current situation, as the related domain is registered in a random office building in Arizona, and the domain proxy address is hidden (usually used by scammers). When you look up the phone number, you get a lot of replies about cryptocurrency-related scam calls."
Spotonchain also tweeted that the on-chain data of TRUMP shows that the token owner is 5e2qRc, funded by DKbF4. And this address received SOL from the Gate and Binance exchanges 2 days and 10 days ago, but never used the US exchange Coinbase.
There are also those who have faith in it, with software engineer cygaar pointing out that the deployment of the new Trump Memecoin website is almost identical to the previous NFT website. The same Cloudflare settings, the same Heroku deployment, the same SSL certificate issuer, and the HTML structure is also very similar to the previous one. And the Trump Memecoin website has been built with a lot of effort, using Cloudflare to protect the website from DDoS attacks, and the SSL certificate was issued on December 21, 2024, which shows that the website has been prepared for some time.
The authenticity of the information is difficult to discern, but the market value is constantly rising. With the imminent return of the Don, is the spring of cryptocurrencies coming?
