Trump Launches His Own Memecoin! š±
ā”ļøWhile many were asleep, Trump launched his memecoin, $TRUMP , on the #solana network. He announced it on his Twitter (X).
š The market capitalization of circulating tokens reached $4 billion in just 8 hours, which is quite impressive.
ā ļø However, I want to highlight that approximately 80% of the tokens are controlled by a group of wallets, most likely belonging to Trump's family.
š”This means they could sell off their holdings at any time, potentially crashing the price. While itās unlikely a future president would do this, the risk is still there.
š°The fully diluted valuation (FDV), including these 80% of tokens, is already around $20 billion, surpassing the market cap of many major global companies.
š¤ Hype tends to fade over time, and the token already appears overvalued. Those who got in early have likely made their profits. I'll see how things unfold, but for now, the potential risks outweigh the possible gains for me personally.
š Have a great weekend, everyone!
NFA&DYOR.
p.s update - Major Exchanges arw starting to list the memecoin. Soon it will appear on #Binance Futures..
