The announcement quickly gained traction, but not without raising a few eyebrows. Many users initially wondered if Trump’s accounts had been hacked, especially as his Truth Social account simultaneously appointed Peggy Schwinn as Deputy Secretary of Education—with her name misspelled. The bizarre nature of the posts led to confusion, but it didn’t stop the meme coin from making waves.
The $TRUMP surge
In less than three hours, $TRUMP’s market cap soared to an eye-popping $8 billion. Trading volumes approached $1 billion, and the coin’s value surged over 300% within minutes. By the time the dust settled, the price of $TRUMP had reached $7.1, up from an initial $0.18. The rise of $TRUMP has led to stories of huge windfalls, with one trader making a $20 million profit in under an hour. But what exactly is behind this meteoric rise?
The $TRUMP meme coin is inspired by Trump’s rallying cry, “Fight, Fight, Fight,” which he allegedly shouted after surviving an assassination attempt at a Pennsylvania campaign event in July 2024.
The token launched with 200 million coins, out of a total supply of 1 billion that will be released gradually over the next three years. A substantial 80% of the tokens are owned by CIC Digital LLC, an affiliate of The Trump Organizationand Fight Fight Fight LLC, which was registered just days ago in Delaware.
Skepticism and legitimacy concerns
While $TRUMP’s eye-popping price gains and market reactions have fuelled excitement, the legitimacy of the project has been called into question.
The meme coin’s official site assures users that it’s “not political” and has no connection to any political campaign or office. However, that hasn’t quelled concerns about potential hacks and the overall credibility of the venture, particularly given the recent uptick in account thefts on X.
-Adding to the weirdness, Trump’s recent merch endeavours have included everything from $100,000 watches to assassination attempt cologne.
This meme coin launch follows a long string of Trump-branded products—each more bizarre than the last—including “Trump Guitars,” which had to be pulled after a cease-and-desist order from Gibson. With a history like this, it’s no surprise that crypto enthusiasts are both intrigued and wary.
In the end, while the $TRUMP token has become the talk of the town in the crypto world, its true value and future remain uncertain. Whether it will be remembered as a hilarious foray into the meme coin space or the next big thing in digital assets is yet to be seen. What’s clear, though, is that the Trump brand continues to keep things interesting—whether it’s in politics, merchandise, or the world of cryptocurrency.
