Days before his inauguration, Donald Trump announced on X and Truth Social the launch of an “official” TRUMP memecoin. The token surged, displacing the likes of Pepe and Bonk in the rankings.
My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. Get your $TRUMP NOW,” wrote the US president-elect.
At the time of writing, the newly launched memecoin trades around $19, with trading volume at $1.71bn.
The token’s surge continues.
The rally shows no sign of stopping — the “Trump token” has passed $29, and FDV has exceeded $29bn. Meanwhile, the vast majority of memecoins have fallen in price.
The asset’s FDV stands at $19bn, while its market capitalisation is just $3.8bn. This means 80% of the token supply remains to be unlocked.
Coveted multiples
Many traders have booked multiples on TRUMP. One trader made $29.8m in under two hours, spending $1.09m in USDC to buy 5,971,750 TRUMP.
?JUST IN: A trader is up $29.8M on $TRUMP, Donald Trump’s official memecoin on Solana. He spent $1.09M to buy 5,971,750 TRUMP coins, now worth $30.8M in under 2 hours—a 2,634% gain. The trader has not sold any coins yet. pic.twitter.com/HS56HoA85X
— SolanaFloor (@SolanaFloor) January 18, 2025
Another trader turned $1.1m into $70m in just four hours.
Turned $1.1M into $70M in just 4 hours—incredible!
This trader has sold 1.35M $TRUMP for $3.65M, and still holds 4.62M $TRUMP($67.5M), bringing his total profit to over $70M!https://t.co/m1k6zmKgLA pic.twitter.com/U3IeU23PER
— Lookonchain (@lookonchain) January 18, 2025
He has already sold 1.35m TRUMP for $3.65m; unrealised gains on the remaining coins exceed $70m.
Major crypto exchanges have opened spot trading in the new token. Bybit has enabled TRUMPUSDT perpetual contracts. A similar step was taken by Binance.
According to Bloomberg, Trump intends to make cryptocurrency a national priority.