Trump Coin: Growth, Risks, and Investment Insight
Post Trumpcoin: Growth, Risks and Investment Insights first appeared in Coinpedia FinTech News
Amid a potential cryptocurrency bull run, the newly launched official Trump (TRUMP) memecoin has received a lot of attention from crypto enthusiasts due to its impressive price surge. Today, January 18, 2024, U.S. President-elect and crypto-supporting Donald Trump posted on X (formerly Twitter) and revealed his new meme coin, called Official Trump (TRUMP).
Trump Price Performance
Since its publication on X, the post has attracted widespread attention around the world and attracted significant investors and traders. trump price It surged from $4 to $35, a nearly 790% increase in less than 24 hours.
However, this new meme coin seems to have been attracting new investors due to its association with Donald Trump, who officially revealed the project to the crypto community. Trump, on the other hand, supports cryptocurrencies and American citizens elected him as the new president, with his presidential inauguration scheduled for January 20, 2025.
With these factors in mind, it seems likely that Trump will be the next big thing in the cryptocurrency space. However, this is the positive side that everyone is aware of at the moment.
Trump-related risks
While receiving a lot of attention from traders, investors, and crypto whales, one issue of concern is the allocation of Trump’s holdings. According to Phantom Wallet data, the top 10 holders currently account for 86.47% of the total supply, which means there are potential risks such as pump-and-dump and price manipulation.
Currently, there are only 200 million Trump coins in circulation, and the maximum supply is 999.99 million. This means that 800 million Trump meme coins are not yet in circulation, which could create selling pressure and cause the price to fall further.
Trump sells off $500 million?
In addition, a cryptocurrency expert named Conor recently posted on X that Trump has sold nearly $500 million worth of meme coins to date. He further added that the Trump team controls 85% of the supply.
These are the advantages and disadvantages Trump Meme Coinso make sure you do thorough research before making a long or long-term investment.
