TRUMP Memecoin Reaches All-Time High, Could Multiply Donald Trump's Net Worth by 5 Times

On January 18, 2025, the cryptocurrency market witnessed a significant event with the launch of the memecoin "TRUMP OFFICIAL" ($TRUMP) on the Solana (SOL) blockchain. Its price surged over 490% in less than 24 hours. TRUMP OFFICIALLY enters the top 30 cryptocurrencies after just one night Donald Trump announced this code from his official account on Truth Social and X, and the introduction of the code has caused a whirlwind of activity, attracting the attention of traders around the world. #Write2Earn #

Within just three hours of its launch, the market capitalization of TRUMP skyrocketed to an astonishing 8 billion dollars, propelling this currency into the top 30 cryptocurrencies. TRUMP's market capitalization is currently at 5.7 billion dollars, with a fully diluted market value of 28.5 billion dollars. This rapid increase is driven by a nearly 500% price surge immediately after launch, with trading volume exceeding $12 billion in 24 hours. The launch of TRUMP has had a profound impact on the Solana ecosystem. Tokens built on Solana have attracted traders' attention to create memecoins and significantly boost its trading volume. The original token code of Solana, SOL, has seen a significant price increase, reaching a new record high of over $270 in a day. This increase is part of a broader trend, in which Solana-based memecoins and DeFi projects are seeing increasing interest, leading to a shift in liquidity away from other networks such as Ethereum, where some prominent memecoins have seen a decrease in value due to this shift Furthermore, SOL's price has skyrocketed compared to Ether (ETH) to an all-time high of 0.081, largely due to the launch of the memecoin TRUMP.

80% TRUMP is owned by a wallet The launch of the TRUMP coin is not without controversy or skepticism; however, with concerns about the legality of the project due to Trump's history with non-traditional projects, concerns about his social media accounts being compromised, and the concentration of 80% of the tokens in a single wallet. Arkham Intelligence has noted on X: Donald Trump's net worth increased by $22 billion in just one night, assuming that CIC Digital LLC and Fight Fight Fight LLC, which collectively own 80% of the $TRUMP supply, actually belong to him. Furthermore, at the current price of around $28, that amount of shares is valued at $22.4 billion. Arkham added, "Forbes estimates the net worth of the president-elect at $5.6 billion in November 2024". If this information is correct, the additional memecoin betting amount will increase by 5 times. Despite these debates, this event has certainly marked a significant moment for Solana, highlighting its ability to handle large transaction volumes and its appeal to major projects. This launch also sparks discussions about the volatility that famous memecoins like this bring to the cryptocurrency market in general, emphasizing the unpredictable nature of cryptocurrency transactions. DYOR! Write&Earn $BTC {spot}(BTCUSDT)