• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

TRUMP Memecoin Gathers Momentum: Trading Spike and Manipulation Concerns

user avatar

by Giorgi Kostiuk

a year ago


The sudden increase in TRUMP memecoin's market capitalization to $42 billion has surprised investors and fueled interest, but also led to suspicions of market manipulation.

Trading Activity and Manipulation

On January 18, analytics firm Bubblemaps investigated a crypto wallet that received $1 million a few hours before TRUMP's launch. Blockchain data shows the wallet purchased $5.9 million worth of TRUMP tokens in the first minute of trading, then sold $20 million while retaining $96 million in tokens. These assets were moved to another wallet and distributed across ten wallets, all now actively selling on Solana decentralized exchanges (DEXs). The trading activity raises concerns about potential market manipulation.

Token Structure and Intentions

Preetam Rao, CEO of QuillAudits, highlighted issues with TRUMP's token structure and intentions. "Eighty percent of the supply is locked for CIC Digital, owned by the Donald Trump Revocable Trust," Rao explained. He added that the top 10 holders control 89.06% of the supply, with no clarity on the liquidity pool's burn status. "The token's launch in an Asian morning time zone suggests it's more about profit-making," he noted.

We see insider trading involved, but if the US government is supporting innovation, maybe it's a rug pull that also sets a foundation for innovation.Preetam Rao

Exchange Success and Impact on Solana Ecosystem

TRUMP's popularity surged post-listing on major exchanges Coinbase and Binance. According to CoinGecko, TRUMP trading volumes soared, with Bitget, MEXC, and KuCoin leading the activity. At the time of writing, TRUMP is up 194% in 24 hours, trading at $54.62. Meanwhile, Solana's ecosystem reached record highs, with platforms Raydium, GMGN, and Moonshot processing large volumes of transactions, attracting over 200,000 new users.

While the TRUMP memecoin shows rapid growth, analysts express doubts about its stability and trading transparency, noting potential market manipulation and impact on the Solana ecosystem.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Trump-Xi Meeting to Address Geopolitical Issues

chest

Trump is scheduled to meet Xi Jinping in Beijing to discuss geopolitical issues including trade, Taiwan, and nuclear weapons.

user avatarRajesh Kumar

Institutional Investors Prepare for Q1 2026 13F Filings

chest

Institutional investors are preparing for the upcoming Q1 2026 13F filings, with the SEC setting the deadline for May 15, 2023. These filings will disclose the holdings of various institutional managers, providing valuable insights into their positions in Bitcoin ETFs.

user avatarSatoshi Nakamura

MicroStrategy Resumes Bitcoin Purchases After Clarifying Position

chest

This week, MicroStrategy resumed its Bitcoin purchases after chairman Michael Saylor clarified the company's position regarding potential sales.

user avatarSon Min-ho

Bitcoin Net Realized Profit/Loss Metric Turns Positive for First Time in 5 Months

chest

The Bitcoin Net Realized Profit/Loss metric has turned positive for the first time in over five months, signaling a significant improvement in market confidence.

user avatarTando Nkube

Crypto Analyst Predicts XRP Rally to $2.15

chest

Crypto analyst Tom predicts XRP will reach a new all-time high of $2.15, citing a bullish trend indicated by a 3-week golden cross.

user avatarAyman Ben Youssef

Bitcoin Price Surges Above $80,000 as Market Indicators Turn Positive

chest

Bitcoin's price has rebounded above the pivotal $80,000 mark, signaling a potential shift in market dynamics with key indicators showing strength.

user avatarKofi Adjeman

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.