Donald Trump Launches TRUMP Meme Coin Ahead of Inaugration
President-elect Donald Trump has taken another step into the crypto world, launching a Solana-based meme coin called Official Trump (TRUMP).
While the offering sparked significant deal activity, it also raised questions about legality, distribution and potential. Safety risk.
Trump’s ‘official’ meme coin
On January 18, Trump announced the launch of a Trump Meme Coin on his official X and Truth Social accounts.
“My new official Trump meme is here! It’s time to celebrate everything we stand for: Winning! Join my very special Trump community,” the president-elect Wrote on X.
As detailed on his website, the meme coin was inspired by his survival experiences. suspected assassination attempt July 13, 2024, during his campaign. The coin’s meta-image depicts Trump with a raised fist and the slogan “Fight, fight, fight,” echoing his actions that day.
“This Trump meme celebrates a leader who never backs down, no matter the odds,” the site said.
The project’s website outlines Tokenomics The total supply is 1 billion tokens, which will be unlocked over three years. There are currently 200 million tokens available for trading, of which only 20% are used for public circulation and liquidity.
The remaining 80% is divided among six groups, including CIC Digital Groups, a company owned by the Trump Trust that previously managed His NFT business.
Cryptocurrency Experts Flag Red Flags in Trump’s Meme Coin
The launch of the coin has sparked interest and concern in the crypto community.
Connor Grogan from Coinbase marked Concentration of token ownership is a major red flag. He noted that 80% of the token supply (worth $3 billion) is locked in multi-signature wallets controlled by the creators.
Additionally, the top five wallets hold over 90% of the circulating supply, raising concerns about potential price manipulation.
Blockchain analytics firm SpotOnChain further highlighted the unusual pattern. The project received initial funding Sol From Gate.io and Binance, but avoid standing out Coinbase and other U.S. exchanges. This discrepancy fuels doubts about the token’s authenticity and underlying intent.
“On-chain data shows the token owner is 5e2qRc, funded by DKbF4. Interestingly, this address received an SOL from Gate.io 2 days ago and from Binance 10 days ago.” SpotOnChain report.
As social media security breaches become more common, people are also concerned about potential hackers. However, comprehensive market Data shows that there is only a 10% chance that Trump’s account was stolen.
Adding to the confusion, Trump’s Truth social account shared unrelated updates, such as the appointment of Peggy Schwinn as deputy secretary of education shortly after the meme coin was announced.
In addition, blockchain engineer Cygaar pointed out that the technical infrastructure of meme currency websites is similar to Trump’s early NFT projectsit is recommended to share the development team.
“The deployment of the new Trump memecoin website is almost identical to his previous NFT website. Same cloudflare setup, same deployment as Heroku, same SSL certificate issuer. Very similar HTML structure to before,” Cygaar point out.
Despite all these doubts, Trump is seeing massive market activity. according to Dex screenerthe token has surged nearly 3,000% since its debut and was trading at $13.23 at the time of the report.
The surge pushed its FDV to $13 billion and trading volume topped hundreds of millions. Major exchanges including Bybit and Jupiter have announced the upcoming listing of TRUMP.
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