Trump launches $TRUMP Meme Coin; is it crypto gold or a campaign gimmick?

With just days until his inauguration, President-elect Donald Trump has launched a new crypto token: $TRUMP. Marketed as a meme coin, $TRUMP has seen an explosive rise in value, sparking a whirlwind of interest—and skepticism—in the crypto world.

The debut of this Solana-based meme coin began with a flurry of posts on Trump’s social media accounts, Truth Social and X (formerly Twitter).

The announcement quickly gained traction, but not without raising a few eyebrows. Many users initially wondered if Trump’s accounts had been hacked, especially as his Truth Social account simultaneously appointed Peggy Schwinn as Deputy Secretary of Education—with her name misspelled. The bizarre nature of the posts led to confusion, but it didn’t stop the meme coin from making waves.

The $TRUMP surge

In less than three hours, $TRUMP’s market cap soared to an eye-popping $8 billion. Trading volumes approached $1 billion, and the coin’s value surged over 300% within minutes. By the time the dust settled, the price of $TRUMP had reached $7.1, up from an initial $0.18.

The rise of $TRUMP has led to stories of huge windfalls, with one trader making a $20 million profit in under an hour. But what exactly is behind this meteoric rise?

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