Is Trump Memecoin Going To Be a Buy The Rumor, Sell The News?
Donald Trump’s entry into the crypto industry with the Solana-based memecoin “Official Trump” ($TRUMP) has sparked both buzz and skepticism among marketers. An 185% price surge and a $4 billion valuation have forced experts to question its long-term prospects amid speculation of pump and sell scenarios.
With 80% of the tokens locked and gradually unlocked, the market is paying close attention to the price of the $TRUMP token and its fundamentals ahead of Trump’s swearing-in ceremony. While supporters acknowledge its potential, critics liken it to a political symbol of recent instability. Is $TRUMP a bold investment or a passing trend? The story unfolds here.
Trump’s Cryptocurrency History!
For the past few years, Donald Trump has been running on cryptocurrency-enabled platforms. Notably, he launched a series of NFTs between 2022 and 2024. Additionally, Trump supports a decentralized finance (DeFi) platform called World Liberty Financial ($WLFI).
After the swearing-in ceremony on January 20, Trump is expected to issue an executive order on cryptocurrencies, which may be the first of many. Under Donald Trump, the U.S. cryptocurrency landscape may undergo a major shift, shift, and change forever.
Is Trump Coin a Pump and Sell Situation?
The cryptocurrency market experienced a horrific pump-and-dump situation during Election Day. PolitiFi (the political meme coin) has reportedly experienced a major price crash, with the top token losing around 60% in a matter of hours.
A similar situation emerged when the memecoin was launched just three days before President-elect Donald Trump’s second inauguration. Marketers speculate that there could be an Election Day-like situation.
It is worth noting that 80% of the 1 billion TRUMP coins are locked and will be gradually unlocked within three years. As a result, the circulating supply is only 200 million coins, and the market value is close to US$4.05 billion. Additionally, transaction volume has surged to over $3 billion, highlighting increased price action.
Analysts’ take on the new TRUMP token launch!
Cygaar is a well-known software engineer with more than 117,100 followers. He said the token’s official website looks similar to the website used to sell and promote its NFTs. Additionally, it is credited to CIC Digital, which is also Donald Trump’s official license for its NFT.
After initial skepticism, he further believed that the new TRUMP memecoin website was a mirror of his previous NFT website. “Either this is the worst cyber robbery ever, or it’s legal,” he concluded.
