Donald Trump's Memecoin Official $TRUMP: What We Need to Know

President-elect Donald Trump has issued his official meme currency, $TRUMP, on January 17, 2025. The $TRUMP meme currency is based on the Solana blockchain. At launch, only 200 million tokens were issued, with plans to expand the total supply to 1 billion over the next three years.

Notably, 80% of the token supply is still controlled by two companies: CIC Digital LLC and Fight Fight Fight LLC, according to BBC. These entities are linked to Trump's organization and it is still unclear how much revenue Trump will generate from this currency. While the website claims that $TRUMP is "Non-Political" and "has nothing to do with any political campaigns", this token was introduced just days before Donald Trump's inauguration. Critics argue that this currency could be seen as a way to capitalize on Trump's political influence. The Purpose of the meme Coin $TRUMP According to the official website, the $TRUMP meme coin was created to symbolize support for Trump's return to the White House. The coin is positioned as an expression of solidarity with Trump's ideals and beliefs. While some people question its legality, both Trump and the official website endorse this coin as the "Official Trump Meme, by President Donald J. Trump." The website emphasizes that this coin is designed to honor the leadership of Trump and is a symbol of unwavering determination: "This Trump Meme honors an unwavering leader, regardless of adversity."

The official website of $TRUMP states clearly that this token "is not intended to be or the subject of any investment opportunity or securities". However, independent cryptocurrency analyst Justin D'Anethan warns that this coin could pose challenges in terms of regulation, especially for influential individuals like Trump, who have significant impact on the speculative market. The launch of $TRUMP has attracted significant attention due to its proximity to Trump's upcoming inauguration and his promise to become the "digital president". Many cryptocurrency supporters hope that the Trump administration will reduce the regulatory burden on digital assets and promote wider adoption of cryptocurrencies. The short-term success of this token raises questions about the long-term impact of such projects on both the cryptocurrency market and the broader political context. After its launch, the price of $TRUMP soared, increasing by more than 300% on the morning of January 20th. Its price peaked at $75 in a short period, causing its market capitalization to soar to $15 billion. As of Monday morning Asia time, the currency paused at just over $56, maintaining a market capitalization of about $11.28 billion.