President-elect Donald Trump launched a Solana-based memecoin, $TRUMP, via social media posts Friday night, just days before his inauguration. The token surged to a market cap of $9 billion within three hours, surpassing other popular memecoins like Pepe and Bonk.
A Quick Take delivers key facts fast—concise, clear, and easy to read. Perfect for busy readers.
Key details:
Launch announcement: Trump promoted the “Official Trump Meme” on X and Truth Social, calling it a celebration of “winning” and inviting supporters to join the $TRUMP community.
Tokenomics:
- Supply: 200 million tokens available initially, expanding to 1 billion over three years.
- Allocation: According to the GetTrumpMemes website, CIC Digital LLC and Fighter Fight LLC, affiliates of the Trump Group, collectively own 80% of the TRUMP meme token, which is subject to a 3-year unlocking schedule.
- Additionally, transaction revenue generated from TRUMP trading activities will be distributed to Fighter Fight LLC’s owners, CIC Digital LLC, and Celebration Cards LLC.
Affiliations: The project is linked to CIC Digital LLC, the entity behind Trump’s NFT trading cards, which earned over $7 million in sales.
Market reaction: $TRUMP’s market cap peaked at $9 billion shortly after launch, before stabilizing.
Criticism: Some crypto leaders expressed skepticism, calling the move a distraction from serious efforts to advance the digital asset industry.
Broader context:
- Trump, once a crypto skeptic, has positioned himself as the “crypto president.” He plans to make crypto a “national policy priority” through an executive order post-inauguration.
- Coinciding with the launch, a “Crypto Ball” in Washington, D.C., featured appearances by Donald Trump Jr. and performances by Snoop Dogg, underscoring the intersection of politics and crypto hype.
This article is published on BitPinas: Quick Take: Trump’s $TRUMP Memecoin Hits $9B Market Cap
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