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Donald Trump's $TRUMP Memecoin Hits $10B Market Cap Amid Hacking Concerns

Jan 18, 2025, 04:34 AM

Donald Trump launched a personal meme cryptocurrency called $TRUMP on the Solana blockchain, announcing it on both his Truth Social and X accounts. The token supply is 200 million tokens now, set to grow to 1 billion over three years. Within hours of its launch, $TRUMP's price surged to $10.15, and its market capitalization skyrocketed to over $10 billion, making it one of the top 20 cryptocurrencies. Trading volume exceeded $1 billion, and the number of holders reached 134,000. The rapid increase in value saw $TRUMP surpass established cryptocurrencies like Dogecoin and Shiba Inu in market cap. Some traders made significant profits, with reports of individuals turning initial investments of $1.1 million into over $20 million in just one hour. Liquidity was reported at $308 million. There is speculation about the legitimacy of the launch, with concerns that Trump's social media accounts may have been hacked. However, no official confirmation has been made regarding the legitimacy of the token.