The TRUMP meme token, named after Donald Trump and launched on Solana, is rapidly gaining attention. Within a day, its value surged by 220%, capturing the interest of the crypto community.
Donald Trump's Coin Price and Growth
At the time of writing, the asset is trading at $61.9 with a market capitalization of $12.1 billion. TRUMP has climbed to the 16th position among the largest cryptocurrencies, surpassing TON and SHIB. The daily trading volume nearly reached $1 billion. Despite the overall stagnation in the crypto market, Solana is hitting new historical highs, trading around $286. Various centralized exchanges have listed the token, while DEXs on Solana are reporting record highs in trading volume.
TRUMP's Coin Tokenomics: Emission and Allocation
On launch day, 200 million TRUMP was available, out of a total issuance of 1 billion coins. According to the project's website, the tokens are planned to be unlocked gradually over three years. A total of 100 million TRUMP is earmarked for public distribution, with another 100 million coins for liquidity provisioning. The remaining 800 million TRUMP are allocated for 'creators' and CIC Digital, linked to Trump's NFT project.
The Future of Trump's Coin
The future of $TRUMP and similar 'politicized' tokens depends on news and social networks. A positive news backdrop raises the price, while any negative event can sharply crash the rates. Arkham Intelligence suggested that if the firms CIC Digital and Fight Fight Fight, owning 80% of the TRUMP supply, are indeed owned by Trump, his net worth could have increased significantly. However, this situation has raised concerns among some members of the crypto community. TradeZella founder Umar Ashraf stated that such a practice is not suitable for the cryptocurrency industry. According to Bloomberg, Trump intends to prioritize cryptocurrency at the national level.
Despite the rapid start and significant interest, many questions remain about the TRUMP meme token's impact on the crypto market and its prospects for long-term success.
