Donald Trumps TRUMP Coin Makes Explosive Debut Heres What to Expect Next
In a notable development, just days before his inauguration, U.S. President-elect Donald Trump announced the launch of his official meme coin, TRUMP, on social platforms X and Truth Social.
Within hours of its debut, the cryptocurrency took the market by storm, recording a fully diluted valuation (FDV) of $16 billion in under 6 hours. This remarkable surge also drove the tokens market capitalization to $4.05 billion, setting the stage for one of the most dramatic openings in crypto history.
Trumps announcement, shared via a bold post on X, emphasized the coins symbolic significance.
My NEW official Trump meme is HERE! Its time to celebrate everything we stand for: VICTORY! Join my special Trump community. Get your $TRUMP NOW, Trumps official X page tweeted early Saturday. The post also included a link to the official platform for purchasing the token, further fueling its meteoric rise.
Debuting at just $0.05, the TRUMP token soared to $20 within hours, marking an astronomical 4,850% price surge. Trading volume skyrocketed past $1.7 billion as buyers rushed to capitalize on the hype.
The TRUMP coins unprecedented rise has shaken the meme coin market, dethroning several established tokens like Pepe and Bonk, rivaling Dogecoin (DOGE) as the top meme cryptocurrency.
Elsewhere, some early adopters have already reaped extraordinary profits. One investor turned a $1.09 million investment into $29.8 million within just two hours, while another pocketed a staggering $70 million from a $1.1 million buy-in.
Nevertheless, despite the hype, some analysts have voiced concerns about the 80% of the token supply that remains locked. If these locked tokens are released, they could significantly affect the market, potentially leading to heightened price volatility.
Meanwhile, the surge in demand has prompted major crypto exchanges to take action. Prominent platforms launched spot trading for the TRUMP token. Bybit has introduced support for TRUMP/USDT perpetual contracts, while Binance has followed suit with similar offerings to meet the growing interest.
That said, the overwhelming demand for the newly launched TRUMP token underscores Donald Trumps crypto-friendly stance, which has further solidified his popularity within the industry.
Notably, the president-elect is reportedly preparing to issue an executive order on his first day in office to prioritize cryptocurrencies as a national policy, alongside establishing a federal advisory council to represent the industry. His administration is also expected to champion Bitcoin adoption and potentially dismiss SEC Chief Gary Gensler, who has been seen as a stumbling block to the countrys crypto agenda.
At press time, TRUMP was trading at approximately $29.06, boasting a 348% price increase in the day.
Read more: https://zycrypto.com/donald-trumps-trump-coin-makes-explosive-debut-heres-what-to-expect-next/
Text source: ZyCrypto
