Did Trump simply drop $TRUMP meme coin on Solana? Token explodes to $8 billion market cap in lower than three hours

January 18, 2025

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Key Takeaways

$TRUMP meme coin reached a market cap of $8 billion inside two hours of launch.
Authenticity considerations arose because of the official announcement being shared on social media.

President-elect Donald Trump introduced Friday he had launched Official Trump ($TRUMP), a Solana-based meme coin. The token exploded to $8 billion in market cap in lower than three hours of its debut amid considerations that his social accounts may need been compromised.

$TRUMP’s worth elevated by greater than 300% within the first three minutes following the announcement, with buying and selling volumes approaching $1 billion, in keeping with GeckoTerminal information. The token was buying and selling at $8.5 at press time.

The announcement first appeared on Reality Social, directing customers to GetTrumpMemes, the challenge’s official web site, to amass the tokens. The same message was later posted on X (previously Twitter), selling it because the official $TRUMP meme coin.

There are critical questions concerning the legitimacy of each bulletins and the challenge, particularly in mild of current hacks focusing on a wave of X accounts. After these bulletins, Trump’s Reality Social account shared a brand new submit appointing Peggy Schwinn as the brand new US Deputy Secretary of Training.

In response to Cygaar, a blockchain engineer, the brand new meme coin challenge is probably going created by the staff behind Trump’s earlier NFT challenge since their web sites share a number of technical similarities.

“Similar Cloudflare setup, identical deployment with Heroku, identical SSL certificates issuer. Very comparable HTML construction as earlier than,” he stated, noting that each web sites have been deployed utilizing Heroku.

“Both that is the best cyber heist of all time, or that is professional,” Cygaar added.

Slorg, a member of Jupiter’s Core Working Group, stated $TRUMP has been verified and listed on Jupiter Alternate.

“I don’t prefer to tweet about cash, and on no account form or kind is that this a promotion. However to maintain folks protected, that is the true Trump coin. We have now authorized it to the Jupiter strictlist,” stated Slorg.

What we all know thus far?

In response to GetTrumpMemes, the $TRUMP token attracts inspiration from the “Battle, Battle, Battle” rallying cry that emerged after Trump’s life-threatening expertise at a marketing campaign rally in Butler, Pennsylvania, on July 13, 2024. These have been the phrases he shouted upon surviving the assassination try.

The token has a complete provide of 1 billion models, with 200 million accessible at launch. The remaining tokens can be launched step by step over three years, with 80% allotted to the creators and CIC Digital, topic to a lock-up interval of three to 12 months earlier than each day unlocking over 24 months.