Traders bag millions as Trump team confirms launch of Solana memecoin
US President-elect Donald Trump’s Solana-based memecoin, $TRUMP, sparks a trading frenzy fueled by high-profile trades and notable whale activity.
Crypto traders are raking in millions following the launch of Official Trump (TRUMP), a Solana-based memecoin introduced by US President-elect Donald Trump.
Announced on Jan. 17, just days ahead of his inauguration as the 47th president of the United States, TRUMP reached a market cap of nearly $9 billion within hours, surpassing memecoins like ,
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR TRUMP NOW,”
Trump posted on Truth Social and X.
Whales join the action :
Large investors, or “whales,” also jumped in. One whale withdrew 61,205 SOL — worth over $14.3 million — from crypto exchange OKX to buy 1.27 million TRUMP tokens. Another spent 8.5 million USDC to purchase 1.03 million tokens at an average price of $8.28.
TRUMP traded at $18.82 at the time of writing, with a market cap of $4.28 billion, up 10,222% since launch and generating $1.71 billion in trading volume across 227,625 transactions.
Solana’s DEX volumes hit record highs :
The launch of TRUMP propelled Solana’s decentralized exchange (DEX) volumes to a record $12.9 billion within 24 hours.
Among the DEXs trading TRUMP, Meteora led with over $4 billion in 24-hour volume, followed by Orca and Raydium.
Centralized exchanges like binance have listed the token.
Note: Not financial Advisor