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Donald Trump launched his own memecoin, $TRUMP, on Friday evening. Three days before his inauguration as president of the United States, the billionaire caused euphoria among crypto investors. The question now arises as to how high the $TRUMP can go.
Trump memecoin launched on Solana
However, we thought we had seen everything with Donald Trump. Three days before his inauguration as president of the United States, the billionaire created a surprise by launching his own memecoin, $TRUMP.
The token was launched on Solana, the favorite blockchain for memecoin enthusiasts. Donald Trump announced it himself on X and on his Truth Social platform.
“My new official Trump meme is here! It’s time to celebrate everything we believe in: WINNING! Join my very special Trump community.”
The $Trump memecoin is notably available on an official site launched for the occasion, called “gettrumpmemes.com”.
Thousands of investors immediately began buying the token, despite the uncertainty that hovered for a while around the veracity of this launch.
Some feared that Donald Trump’s accounts had been hacked to promote a fake memecoin bearing his image. This type of process has been observed several times in recent months, with many personalities having been affected.
A risky investment?
The price of the $TRUMP token therefore immediately exploded, going from around 4 dollars to more than 18 dollars in a few hours, an increase of almost 500%.
This Saturday at the end of the morning (French time), the total capitalization of $TRUMP exceeded $3.6 billion.
-The enthusiasm was such that most altcoins corrected, while Solana liked herself. As if all the liquidity in the market was trying to concentrate on $TRUMP.
For investors who missed the departure of the train, the question arose as to whether there was still time to invest. A difficult question, as several scenarios now present themselves.
After such an increase, cryptocurrencies tend to correct, which could cause the price of the token to fall again. Additionally, some analysts have issued warnings about tokenomics.
Indeed, 80% of the total tokens were still locked, as the Bubblemaps site pointed out. And they had to be shared between 6 addresses defined as “creator and CIC Digital”.
If these addresses suddenly start selling, it could cause the price of the $TRUMP memecoin to plummet.
In an optimistic scenario, however, the token could continue to appreciate, at least until Donald Trump’s inauguration in Washington on Monday.
And it is also possible that $TRUMP becomes a reference memecoin during Trump’s four-year presidency.
And this could benefit the crypto market as a whole, including tokens like Mind of Pepe ($MIND).
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This article does not constitute investment advice in any way. The information provided here should not lead to financial decisions. Cryptocurrency investments involve risks and may result in significant losses. You should only invest what you can afford to lose and carry out your own research before making any investment decisions.
