In a Friday night revelation, former President Donald J. Trump announced the launch of his official meme coin, ‘TRUMP,’ on Solana’s blockchain. Trump shared the news via his social media platforms, including X (formerly Twitter) and Truth Social, saying, “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.”
The announcement comes just three days before Trump’s anticipated swearing-in for a second term in the White House, adding an unexpected twist to his political and digital ventures. The cryptocurrency has already garnered significant attention, with degen traders jumping in immediately and generating hundreds of millions of dollars in trading volume within hours of the announcement.
Degen Traders Reap Millions from TRUMP Token Launch
High-profile traders wasted no time capitalizing on the cryptocurrency’s explosive debut. One prominent trader, known as “LeBron”, reportedly spent 1 million $USDC to acquire 4.52 million $TRUMP tokens within minutes of the announcement. In a swift move, they sold 4.12 million $TRUMP for 2.49 million $USDC, netting a profit of over $2 million while still holding onto 400,000 tokens valued at $560,000.
A wallet named “LeBron” earned over $2M on $TRUMP just now!#Trump launched a meme coin, $TRUMP, on his truth social account (account theft is not ruled out).
LeBron spent 1M $USDC to buy 4.52M $TRUMP 2 minutes after #Trump‘s post, and then sold 4.12M $TRUMP for 2.49M $USDC,… pic.twitter.com/TwdS0XdwlR
— Lookonchain (@lookonchain) January 18, 2025
Another investor, who remains anonymous, capitalized on the frenzy with a $20 million profit. Shortly after the cryptocurrency’s launch, they spent approximately 1.1 million $USDC to buy 5.97 million $TRUMP. They strategically sold a small portion for $404,000 and continued to hold the majority of their holdings valued at $21 million.
Meanwhile, a Solana-focused trader, 0xSunNFT, turned their $653,000 investment into $3.7 million. By purchasing 999,895 $TRUMP tokens, they sold 199,895 tokens for $812,000, retaining 800,000 $TRUMP valued at $3.58 million.
TRUMP Price Action
According to CoinMarketCap’s latest data, the TRUMP meme coin trades at $13.51 as of press time, marking a 108% surge in the last 24 hours. The cryptocurrency’s market capitalization has reached $2.55 billion, with a trading volume of $1.55 billion, reflecting its rapid adoption and high liquidity.
Also Read: XRP Breaks 7-Year Record: Experts Eye $10 Price Target
