Everything You Need To Know About Trump Coin

How it all started:

In the late hours of Friday, January 17, while most people were asleep, Donald Trump took to Truth Social and platforms like X to announce the official launch of his own meme coin on Solana.

At first, much of the internet was divided on whether the token was real or fake, with primary sources holding off on confirming its authenticity. Soon after, the market cap of the coin soared past $70 billion, turning people into millionaires overnight.

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

Reaction from crypto community

The crypto community was divided on the launch of the meme coin some calling it good for the ecosystem as a whole onboarding new users, while some called it a mockery of the industry as a whole and while it may be good short term would affect the legitimacy of cryptocurrency long term. One thing everyone seemed to agree on was that the next four years certainly will not be boring for financial markets.

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The incoming President of the United States just launched a meme coin days before his inauguration.

The market cap is almost $8 billion in less than 3 hours, which nearly doubles Trump’s net worth.

Financial markets are not ready for what is ahead — buckle up.

— Anthony Pompliano 🌪 (@APompliano) January 18, 2025

How it affected the rest of the crypto market

The coin was launched on the popular blockchain Solana, which drove Solana to reach new all-time highs of $293 in the days following the launch of $TRUMP.

In the past, Ethereum was the go-to platform for meme coins to launch, hosting popular coins such as $PEPE. However, Ethereum has struggled in recent years, failing to reach its 2021 all-time high of $4,700+, with users frequently complaining about high gas fees, among other issues.

Following the launch of $TRUMP, popular meme coins such as Bonk, Mog, Doge, Pepe, Pengu, and others fell significantly as investors rotated their money into the $TRUMP token. The popular meme coin “Fartcoin” also reached new all-time highs.

Melania Meme Coin

Following the success of Trump Coin, a day later, Donald Trump’s wife, Melania Trump, released her own token, which was reposted by Donald’s official X account. Trump Coin was near all-time highs when Melania’s token launched, causing $TRUMP to crash by over 60% as many investors and speculators rotated their money into Melania’s token. Popular finance influencer and investor Anthony Pompliano posted on X that he was informed the group behind the launch of Melania’s token was different from the group that launched Trump Coin.

I just confirmed that the team that launched the TRUMP token is different than the team that launched the MELANIA token.

I don’t hold either token, but it is obvious we entered a new era this weekend.

— Anthony Pompliano 🌪 (@APompliano) January 20, 2025

Memecoin Mania

Binance founder, known as CZ, predicted that more world leaders would launch their own cryptocurrencies. Soon after making this prediction an X account affiliated with the country of Cuba launched a token reaching millions of dollars in market cap before deleting the posts and pulling the liquidity from the token. Many believe the X account was hacked.

Mark Cuban and Dave Portnoy also teased coin launches, but with very different approaches. Billionaire and TV personality Mark Cuban posted on X that he was considering launching his own token, with the profits directed toward helping pay off the United States national debt. This aligns with Binance founder CZ’s recent prediction that more world leaders would soon launch their own tokens.

If meme coins are the way, maybe I’ll issue one. With a twist. Same terms as $TRUMP . 20% float. Same release schedule. One difference.

All the revenue from the sale of the coins go to the US Treasury. The wallet address will be published so everyone can track it.

If…

— Mark Cuban (@mcuban) January 20, 2025

Barstool Sports founder Dave Portnoy, on the other hand, took a very different approach, emphasizing the importance of transparency. He stated that he would do it strictly for the money but expressed concerns about legal consequences. He added that he would only proceed if it meant he could purchase a professional sports team.

I’ve been going back and forth about if I want to launch my own meme coin #DDTG pic.twitter.com/KdEdXgdvJT

— Dave Portnoy (@stoolpresidente) January 23, 2025

Post-Inauguration: Trump Coin Loses Value

During President Trump’s inauguration speech, he did not make any mention of cryptocurrency or Trump Coin. In the days that followed, when asked about the meme coin, President Trump acknowledged that he “doesn’t know much” about it, which led to the token’s price further decreasing in value. Trump Coin initially peaked at over $74 and is currently sitting around $26, with a market cap of $5.2 billion.