Recent posts from Donald Trump on social media regarding a new Solana-based memecoin have provoked lively discussions in the cryptocurrency industry.
Trump's Promo Posts Spark Discussions
On January 18, Trump announced a new official memecoin called Trump Meme in his social media posts. The post appeared on X and Truth Social, where the memecoin traded at $8.41, with a market cap of $8.3 billion just three hours after creation, according to the Moonshot platform.
Doubt Over Legitimacy of the Posts
Some industry participants question the authenticity of these posts. BecauseBitcoin founder Max Schwartman noted that if it was a hack, it could negatively affect Trump's stance on cryptocurrencies as he takes office. Other well-known crypto commentators questioned the authenticity, declaring that Trump would have likely made a video announcement if it were real.
Market Impact and Industry Reactions
The crypto community's reactions show that while some believe the posts could be legitimate, they prefer not to engage with the token. Analysts note significant market movements: Solana's price surged by 4.12%, while many participants began selling assets to invest in Trump's memecoin.
These events are fueling interest in cryptocurrencies and provoke ambiguous reactions. Despite this, the impact of the memecoin on the market and its legitimacy remains questionable.
