Early Investor Turns $1M to $104M as Donald Trump Officially Launches Memecoin
Donald Trumps newly launched TRUMP meme coin instantly gains traction, massively rewarding traders who bought the Solana-based token early.The US president-elect reiterated his admiration for the crypto sector by officially announcing the launch of his meme coin on January 18 despite early skepticisms and speculations of a possible hack.Trump unveiled the official Trump meme coin in a tweet today, sparking reactions from the crypto community. He noted the Solana-based token celebrate everything we stand for, attaching the meme coins address in an accompanying picture.TRUMP Surpasses $3B Market Cap in HoursThe Trump token instantly gained traction among market participants, who incessantly aped into the meme coin. The massive buy-in spurred a market cap explosion and a corresponding price upsurge.At the time of writing, data from DEXScreener shows that TRUMP has crossed $3.8 billion with an $18 billion fully diluted valuation (FDV) despite launching less than eight hours ago. The assets surging valuation has seen it break into the top 40 cryptocurrencies by market cap.Meanwhile, its price has surged, enhanced by its fair total supply of 200 million TRUMP. At press time, the meme coin trades at $19.01, up a staggering 9,621% since its hours-long launch.User Sits on $104M Unrealized ProfitAmid the buzz, Lookonchain drew the crypto communitys attention to a user who has benefited immensely from the TRUMP token. The on-chain tracker shared that the user swapped 1.1 million USDC for 5.97 million TRUMP immediately after the token launched.
Text source: The Crypto Basic
