What Led to the Skyrocketing of Donald Trump Memecoin by Over 12,000% Overnight, Resulting in a $30B Fully Diluted Value?
Upon its recent launch, the TRUMP meme coin, the official Donald Trump cryptocurrency, made a significant impact in the crypto world. It quickly became a trending topic among investors and enthusiasts, with its value skyrocketing to $30 within hours of hitting the market, representing a remarkable 12,000% surge from its initial price.
The ongoing exponential rally appears to be just the start of TRUMPs journey. Despite its incredible growth, the coins upward momentum shows no sign of slowing down. With a market cap of $6 billion and a fully diluted valuation of $30 billion, the TRUMP coin is solidifying its position as a standout in the meme coin category.
Early investors have reaped substantial rewards from their faith in TRUMP. A meager $10,000 investment at launch has now grown to an impressive $1.2 million, underscoring the immense potential of this viral asset. As the TRUMP coin continues to dominate headlines, speculation abounds regarding its long-term sustainability and whether it signifies a new trend in the crypto sphere. The unprecedented growth of this meme coin has captivated the attention of many, eagerly awaiting its next move.
TRUMP Emerges as the Leading Meme Coin Ever
Witnessing an astounding growth rate of 9,500% and achieving $2.2 billion in trading volume within a mere 12 hours of its launch, the $TRUMP meme coin has already made history as the most prominent meme coin phenomenon to date. The launch of TRUMP by President-elect Donald Trump at 9:44 PM ET on a calm Friday night set the stage for an extraordinary journey in the crypto space.
Initially met with skepticism, the validity of the coins launch came into question. However, as no official denial was made, confidence in TRUMP surged, leading to a meteoric rise in its price. By 12:45 AM ET, TRUMP had surpassed $10, embarking on a parabolic rally, offering traders unprecedented returns. Notably, TRUMP outperformed the cumulative return of the S&P 500 over 30 years within a brief span.
The scarcity of circulating supply has been a key driving factor behind the coins rapid price escalation. With only 20% of the total supply in circulation, the gradual release of the remaining 800 million coins over the next 36 months has fueled speculation. The possibility that Trump himself holds this undistributed portion has added intrigue to TRUMPs narrative.
With its unprecedented rise, TRUMP continues to captivate onlookers, establishing itself as a standout in the crypto world. The ongoing rally and curiosity surrounding its supply dynamics have cemented TRUMP as a remarkable chapter in cryptocurrency history.
Examining Price Action and Market Cap
The explosive ascent of the TRUMP coin has sparked inquiries regarding its Market Cap and Fully Diluted Valuation (FDV). With a total supply of 1 billion coins, the FDV at current prices would reach approximately $21 billion if all coins were in circulation. However, since only 200 million coins are currently circulating, the market cap stands at roughly $4.2 billion, showcasing the impact of circulating supply on valuation metrics.
Price movements offer limited insights into TRUMPs future trajectory due to a lack of substantial data for technical analysis. The chart primarily displays a parabolic green candle, symbolizing the coins rapid rise amidst fervent hype. The critical question looming over the market is whether demand can sustain current levels as the unreleased 80% of the supply gradually enters circulation.
The emission schedule of TRUMP outlines the gradual release of the maximum supply over the next 36 months. While skeptics raise concerns about potential oversupply leading to a price crash, advocates argue that the methodical distribution allows demand to keep pace, minimizing the risk of significant price erosion. The ongoing debate adds an element of suspense to TRUMPs future.
Featured image from Dall-E, chart from TradingView
The post What Led to the Skyrocketing of Donald Trump Memecoin by Over 12,000% Overnight, Resulting in a $30B Fully Diluted Value? appeared first on Crypto Breaking News.
Text source: Crypto Breaking News
