Official statements or press releases from Donald Trump or his verified social media accounts

Trump's $TRUMP Memecoin Hits $15B Market Cap Amid Legitimacy Questions

Jan 18, 2025, 05:11 AM

President-elect Donald Trump has reportedly launched an official memecoin called $TRUMP on the Solana blockchain, just days before his inauguration. The token experienced a meteoric rise, reaching a fully diluted valuation of over $15 billion within hours. Trading volumes exceeded $1 billion, and the price of the token surged to $15. The memecoin quickly surpassed other major cryptocurrencies, overtaking Dogecoin and Shiba Inu in market capitalization. Solana's 24-hour decentralized exchange (DEX) trading volume soared to $7.2 billion, setting a new all-time high. A single address is reported to hold 80% of the token's supply, and the liquidity reached $308 million. The token attracted over 138,000 holders. Some traders saw massive profits, with one reportedly turning $1.1 million into $70 million in four hours. There is ongoing speculation about the legitimacy of the launch, with uncertainty over whether Trump's social media accounts were compromised or if the memecoin is officially endorsed.