Important Information about Official Trump (TRUMP) Meme Coin, Must Know!

Bittime - Official Trump (TRUMP) meme coin has attracted attention since its launch on January 18. 

The following is important information about Official Trump (TRUMP) that you must know, from its fantastic market capitalization to the controversy surrounding token distribution. 

Launch of Official Trump (TRUMP) Meme Coin

On January 18, Donald Trump officially launch meme coin Official Trump (TRUMP), which immediately recorded great success. 

In a short time, the token reached a market capitalization of $11 billion, and became the 18th largest cryptocurrency in the world, a rare achievement for a new project.

Not only that, data shows that more than 161,000 people have joined the TRUMP ecosystem in just a few days. In comparison, the stablecoin USDC only managed to attract around 41,000 people on the same platform.  

Read Also: What is Official Trump (TRUMP)?

Controversy of Official Trump (TRUMP) Distribution 

Despite its great success, the launch of the Official Trump (TRUMP) meme coin also caused a number of controversies. One of them is the distribution of tokens which is considered uneven. 

Based on on-chain data, the largest account thought to belong to Donald Trump himself controls 80% of TRUMP's total supply. Only 10% of the total supply is currently circulating on the market, and the remainder will be released gradually over the next 3 years.

This also sparked criticism, some said that distribution that was too concentrated could pose a risk of market manipulation. In fact, former SEC Chairman Gary Gensler once warned about risks like this.

Official Trump (TRUMP) Price Performance

After the launch of the Official Trump (TRUMP) meme coin, the price of this token rose sharply to reach an all-time high of $79.34 on January 19, but was immediately followed by a significant drop of 40%.

Despite showing recovery, the TRUMP token price is currently facing strong resistance at the $61 level. If the price is able to break this level, then the bullish trend can continue. 

However, if the price fails to sustain and break down, there is a high possibility that the TRUMP token price will fall towards the support area at $25.

Read Also: TRUMP Coin Price is Freefalling, This is the Cause and Current Condition

Official Trump (TRUMP) FAQs

What is Official Trump (TRUMP)?

Official Trump (TRUMP) is a political meme coin launched by Donald Trump on the Solana blockchain. The project immediately attracted attention, especially because it was launched ahead of Donald Trump's inauguration. 

What is TRUMP's ATH Price?

Hangry TRUMP mencapai all-time high $79.34 on January 19, 2025, one day after launch.

What is the Current Price of TRUMP

BBased on Coinmarketcap, currently the price of TRUMP is at $37.38.

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Reference

CCN, TRUMP Memecoin Disrupts the Crypto Market — Enters Top 20 Biggest Cryptocurrencies, accessed January 21, 2025.

Coinmarketcap, Coinmarketcap Official Trump Currency, accessed January 21, 2025.

Author: IPR