Donald Trump promoted the official TRUMP meme token on the Solana network. Is this a hack or a new era of crypto?
Yesterday, Bloomberg sources reported about the desire of the newly elected US President Donald Trump to make cryptocurrency policy a national priority in the country. This means that official government agencies will then have a good reason to engage with the coin industry rather than shun it. Now the politician has gone even further. Apparently, Trump has launched his own official meme token.
A new cryptocurrency directly linked to Trump
This morning, an advert for a meme token appeared inside Trump’s Truth Social and X social media accounts, which the author of the post called “the official Trump meme”. On Twitter, the post racked up more than 16 million views, meaning the attention to what was going on was huge. Here’s what the tweet looks like.
Donald Trump’s tweet advertising his meme token
And here’s its content, as cited by Decrypt.
My NEW official meme about Trump is HERE! It’s time to rejoice in what we stand for: victory! Join my unique community of Trump supporters. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com – and have some proper fun.
The cryptocurrency community met the novelty with enthusiasm, as trading volumes with the token have already exceeded $3 billion. TRUMP itself has given away more than 200 percent growth today, reaching a capitalisation of $2.7 billion and finding itself in 58th place in the overall ranking of the largest cryptocurrencies.
Donald Trump’s meme token exchange rate
Among blockchain enthusiasts, there were quite a few people who thought that hackers were behind it all. Still, in recent years there have been many cases when scammers hacked into the social networks of celebrities or famous companies, then used them to advertise their own crypto-assets, thus earning on the rise in price.
The Instagram hack of fast food chain McDonald’s was particularly high-profile. It happened in August 2024, which we wrote about in our Telegram channel.
However, several hours after its publication, it still hasn’t been deleted. This suggests that the newly elected president really decided to make a gift to the cryptocurrency community, supporting the meme-token trend.
With this in mind, blockchain analysts decided to get involved. They determined that the cryptocurrencies needed to launch the token were sent to the address of the depositor from the exchanges Binance and Gate, which do not interact with US residents. Accordingly, it could be the project’s employees living outside of America.
Deploying cryptocurrency to the address that launched Trump’s meme token
Trump may still use intermediaries to create or manage the project. If that’s the case, he should use American exchanges. We have great coins – the best coins!
😈 MORE INTERESTING STUFF CAN BE FOUND IN OUR YANDEX.ZEN!
However, there are also arguments in favour of the reality of the token. Judging by the contents of the TRUMP meme token website, the project is associated with the same organisation CIC Digital LLC, which was previously responsible for launching official NFT collections of the policy.
In turn, CIC Digital LLC is wholly owned by The Donald J. Trump Revocable Trust, through which the politician entered into a licensing agreement to sell NFTs under the relevant brand and thus earned more than $7 million. Here’s a rejoinder from the site cited by The Block.
CIC Digital LLC and Celebration Cards LLC, owners of Fight Fight Fight LLC, will receive revenue from trading activities related to Trump Meme Cards. The tokens are not intended to be used as an investment opportunity, investment contract or any type of security.
Also, an analyst under the pseudonym cygaar shared his opinion on what is happening. He believes that Trump’s meme token is genuine.
Yes, the new site for Trump’s meme token is almost identical to his previous site for the NFT. Same setup via Cloudflare, same deploy via Heroku, same SSL certificate publisher. Very similar HTML structure as before.
The fact that both sites are deployed via Heroku really makes me think it’s the same developer, lol. Only olds from a decade ago still use Heroku to deploy sites. Either this is the greatest cyber robbery of all time, or it’s happening for real.
Trump’s TRUMP meme token rate and performance
The maximum supply of the TRUMP token is one billion coins. There are now 200 million tokens in circulation, with the figure rising to one billion in three years. 80 per cent of the total supply is at a single address.
Distribution (tokenomics) of the Donald Trump meme token
10 per cent of the supply is in open trading – these are the coins that will go to regular traders and investors. The same share of the crypto asset is used to provide liquidity in the auction.
The creator of the token and CIC Digital Group will receive coins from the currently blocked offer after 3-12 months, and the cryptocurrency will be credited to their addresses for two years.
All in all, it’s not the best distribution of a token that could easily be described as centralised. Of course, ordinary investors will have the opportunity to earn at the expense of the hype, but in the end, most of the coins will end up in the hands of the creators who want to sell the crypto asset.
The rate of the Official Trump token exceeds $13. As a result, the cryptocurrency turned out to be the most trending and profitable on the Coingecko platform.
Trump’s meme token turned out to be the most trending and profitable cryptocurrency overnight
Note that a rise of almost 10 per cent was recorded by Solana, which has the Trump meme running on its network. Apparently, investors are now actively buying SOL, including to conduct transactions with the meme of the newly elected president in this blockchain.
How to buy Trump’s token TRUMP
In the afternoon, the TRUMP exchange rate hit $24.3. The token’s growth at its peak exceeded 450 per cent in a 24-hour period.
TRUMP meme token rate chart
The crypto asset is traded on popular platforms Raydium, Meteora, MEXC, Orca and other platforms. Here is their list.
List of exchanges where the TRUMP meme token is traded
In case of anything, here is a link to the TRUMP-USDC trading pair on the popular Jupiter platform. Don’t forget to check the token’s contract address, as scammers are already creating scam copies. The correct combination is 6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN.
Also, don’t forget that when using decentralised exchanges, you need a certain amount of SOL to pay transaction fees.
So far, everything points to Donald Trump's meme token being official and genuine. Which means the newly elected president has clearly decided to realise his promises to support the digital asset industry. And as the head of state with an advanced economy launches his memes, it clearly makes no sense for other investors to ignore such an asset category - as well as crypto in general.
Look for more interesting stuff in our crypto chat. We look forward to seeing you!
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