Donald Trump’s ‘Official’ Meme Coin Cracks Top 40 Altcoins: Crypto Community Reacts

TL:DR;

• With simply days left till he steps into workplace, Donald Trump has as soon as once more taken the crypto neighborhood’s focus.
• This time, it’s as a result of he has evidently launched a meme coin that has already soared in worth and is among the many prime 40 largest altcoins by market cap.

Trump’s Official Meme Coin

It’s protected to say that the crypto neighborhood has seen plenty of unusual issues up to now decade, particularly when it comes all the way down to meme cash. In any case, there are some based mostly on canines, cats, well-known frog characters, lifeless squirrels, and so forth.

Nevertheless, it’s not day by day that you just see the promotion of a meme coin made by the president-elect of the world’s largest financial system. Donald J. Trump, via his official accounts on Reality Social and X, introduced yesterday that he has a brand new ‘official’ meme coin and urged his virtually 100 million followers to ‘be a part of my very particular Trump Group.’

My NEW Official Trump Meme is HERE! It’s time to rejoice every thing we stand for: WINNING! Be part of my very particular Trump Group. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Enjoyable! pic.twitter.com/flIKYyfBrC

— Donald J. Trump (@realDonaldTrump) January 18, 2025

Lots of people questioned the legitimacy of the mission and guessed that his account was hacked. Nevertheless, that doesn’t appear possible in the intervening time. The meme coin’s website resembles these made for Trump’s official NFT collections up to now, credited to the identical licensee – CIC Digital.

It exhibits that the present circulating provide is 200 million, but it surely might go as much as as excessive as a billion throughout the subsequent three years. Considerably alarmingly, the teams that may personal the largest shares are ‘creators and CIC Digital,’ with a complete proportion of 72%.

Whereas others praised the transfer and formally welcomed Trump to the cryptocurrency area, despite the fact that he already has such a mission referred to as World Liberty, some, comparable to ZachXBT, had been much more skeptical.

Welcome to Prime 40

OFFICIAL TRUMP (TRUMP) is clearly in the present day’s prime gainer, and its worth has skyrocketed by triple digits. In keeping with information from CMC and CG, its market cap has soared to over $4 billion. Though the 2 platforms have barely completely different valuations ($4.3 billion vs $4.05 billion) at press time, TRUMP has entered the highest 40 largest alts by market cap on each.

Furthermore, TRUMP’s beneficial properties come amid an enormous retracement from all different meme cash based mostly on his presidential marketing campaign and upcoming presidency.