A new cryptocurrency, $TRUMP, has taken the Solana blockchain by storm, achieving an $8 billion market cap within hours of its launch. Allegedly tied to President-elect Donald Trump, the coin has sparked both excitement and skepticism across the crypto community.
Meteoric Rise on Solana
The $TRUMP token, branded as the “Official Trump Meme Coin,” was introduced on Friday via Trump’s Truth Social account. Users were directed to the GetTrumpMemes website to purchase the coin. Shortly after, a similar announcement surfaced on X (formerly Twitter), amplifying the token’s visibility.
Within the first three minutes of trading, $TRUMP surged over 300%, with trading volumes nearing $1 billion, according to data from GeckoTerminal. By press time, the token had reached $8.5, marking an extraordinary debut.
Concerns Over Authenticity
Despite its rapid rise, questions about the coin’s authenticity emerged quickly. Blockchain expert Cygaar highlighted striking similarities between $TRUMP’s infrastructure and Trump’s previous NFT project. “The same Cloudflare setup, Heroku deployment, and SSL certificate issuer suggest a connection to the same team,” he stated.
Speculation about a potential hack gained traction when Trump’s Truth Social account made an unrelated announcement about a new Deputy Secretary of Education shortly after the coin’s launch. This unusual sequence of events raised concerns among cybersecurity experts, who urged caution.
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Verification and Listing
Amid the controversy, $TRUMP was verified and listed on the Jupiter Exchange. Slorg, a member of Jupiter’s Core Working Group, confirmed its approval. “We added it to the Jupiter strictlist,” he said, while emphasizing the importance of user awareness in navigating this volatile market.
Token Details
Inspired by Trump’s “Fight, Fight, Fight” slogan from his 2024 campaign, $TRUMP launched with a total supply of 1 billion tokens. Of these, 200 million were made available immediately, while the remaining supply is locked for gradual release over three years.
The project’s launch timing and branding have drawn comparisons to Trump’s NFT collection, which saw significant success in 2024. However, neither Trump’s campaign nor his representatives have confirmed any direct involvement in the token’s creation.
A Political and Crypto Intersection
The $TRUMP token’s rise highlights the growing intersection of politics and cryptocurrency. Trump’s name has proven to be a powerful driver of market activity in the blockchain world, but the lack of clarity surrounding this project underscores the risks involved.
Analysts urge investors to approach the $TRUMP token cautiously until its origins are clarified. While the token’s explosive launch demonstrates the power of political branding in crypto markets, it also serves as a reminder of the potential for volatility and uncertainty.
As the debate continues, $TRUMP remains a symbol of the unpredictable nature of blockchain innovation, leaving investors and observers alike questioning what lies ahead.
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