In the vast world of cryptocurrency, various tokens emerge endlessly, and the Trump token (TRUMP) has sparked waves in both the political and financial arenas since its inception.
On January 18, 2025, former U.S. President Donald Trump announced the launch of his personal meme coin TRUMP on his social media platform Truth Social, a news that hit the cryptocurrency market like a bombshell. The total supply of the token is 1 billion, of which 80% is held by Trump-affiliated companies CIC Digital LLC and Fight Fight Fight LLC, with plans to gradually unlock it over the next three years. This highly centralized distribution model raised questions about 'insider manipulation' and 'de facto corruption' from the very beginning. For example, on-chain data shows that the token owner's address is linked to cryptocurrency scam calls, and many hidden dangers have sown the seeds for its development. Once launched, Trump Coin exhibited astonishing market performance.
The opening price was 0.1824 USD, and within just 12 hours, it surged over 15,000%, reaching approximately 30 USD, peaking at 75.35 USD during the trading session, with its market cap nearly approaching 80 billion USD. Such an astonishing increase made it quickly stand out in the cryptocurrency market, attracting the attention of many investors. However, the drastic price fluctuations also became the norm; in the subsequent developments, the price rose sharply at times and plummeted at others, leaving investors' sentiments swinging wildly. Trump's attitude towards cryptocurrency has changed dramatically. He publicly criticized cryptocurrency as a 'scam,' yet during the 2024 campaign, his stance turned 180 degrees, promising to make America the 'global crypto capital' and nominating cryptocurrency advocate Paul Atkins to succeed as SEC chairman. The issuance of the TRUMP token seems to have become a 'testing ground' for him to fulfill this promise, with some even suggesting that the token sale might indirectly raise political funds.
With the soaring value of the TRUMP token, Trump's personal net worth increased significantly overnight, a phenomenon that has sparked much controversy. The Campaign Legal Center accused him of 'monetizing his presidential position,' and the launch of the forked coin was criticized as a 'family-style harvest.' Although the token lock-up mechanism has temporarily alleviated selling pressure to some extent, the unlocking plan over the next three years undoubtedly hangs like a Damocles' sword, becoming a long-term bearish factor that continuously affects market confidence in the token.
Over time, the performance of the Trump token in the market has not been smooth sailing. On March 10, 2025, the cryptocurrency market experienced a comprehensive crash, and the price of TRUMP coins was no exception, dropping over 12%. Amid the price fluctuations, the market's judgment of its value has become increasingly complex. Under the stimulation of certain events, the TRUMP coin has also seen significant price volatility. For example, on May 19, 2025, Trump announced that $TRUMP would officially become the fundraising token for his campaign foundation, and this news caused a massive uproar across the internet. Within 24 hours, the trading volume of the token soared to 18 billion USD, exceeding three times that of Bitcoin, with the price breaking through 285 USD, experiencing a single-day increase of over 80%.
However, behind this prosperity, on-chain data shows that early 'whale' investors made a fortune while many retail investors who chased the highs got trapped, highlighting the high-risk nature of the cryptocurrency market once again. On May 22, Trump hosted a lavish dinner for the first 220 buyers of the Trump token at his golf club in Virginia. This event attracted many cryptocurrency giants and influential entrepreneurs from around the world, including Chinese billionaire Sun Yuchen and South Korean executive Woo Sang-rok.
Participants did not win their seats through traditional, regulated political donations, but rather by holding a large amount of TRUMP tokens. This event further solidified the connection between the TRUMP token and political influence, raising a 'moral alarm.' People began to worry whether this constituted a 'direct monetization of presidential influence' and whether it was a means of selling access to the core of power through a highly speculative and largely unregulated digital token. According to Chainalysis, although a few wallets supporting Trump made millions through the TRUMP token (with 58 wallets each profiting over 10 million USD), over 764,000 wallets incurred losses due to investing in this token, turning many ordinary investors into casualties of this political-financial game.
From the perspective of market technical analysis, the TRUMP token also shows some unique characteristics. As of the specific time of writing, the trading price of TRUMP in the past 24 hours was 13.59 USD, but it has risen by 45% in the past 30 days. Its price trend on the daily chart indicates that the token once broke through the ascending triangle pattern on the Binance TRUMP/USDT chart, which is generally regarded as a bullish signal, indicating that the price could continue to rise. According to technical analysis theory, by measuring the height of the triangle (the vertical distance from the lowest point of the rising trendline to the horizontal resistance) and projecting that distance upwards from the breakout point, potential price targets can be established. In this case, the first target price is 17.63 USD, representing the initial expected trend after the breakout; the second target price is 22.65 USD, indicating further extension of the upward trend if the breakout continues.
However, technical analysis is merely a predictive tool based on historical price trends and market trading data, and it cannot accurately predict future price directions, especially in the highly uncertain cryptocurrency market. Now let's turn our attention to comparing the Trump token with other related cryptocurrencies. Taking Dogecoin (DOGE) as an example, Dogecoin, as one of the earliest meme coins, emerged in 2013, based on a famous internet meme featuring a Shiba Inu. Initially, it was just a joke but was unexpectedly embraced by the enthusiastic crypto community. Today, it has a market cap of 55.8 billion USD, ranking 7th among all cryptocurrencies, and firmly holds the top position in the meme coin category. In contrast, while the TRUMP token gained tremendous attention and skyrocketed in market value in a short time due to Trump's influence and market hype, it still lags behind Dogecoin in terms of long-term community foundation and market recognition.
Dogecoin has developed a relatively stable user base and application scenarios within the cryptocurrency ecosystem after years of development, while the development of the TRUMP token relies more on Trump's personal political dynamics and short-term market speculation, facing greater challenges in sustainability and stability. On the regulatory front, the controversy over the legality of the TRUMP token exposes the current gaps in cryptocurrency regulation. The U.S. Securities and Exchange Commission (SEC) has not explicitly categorized meme coins as securities, allowing Trump's team to potentially further blur regulatory boundaries through policy relaxation. This regulatory uncertainty has provided a certain degree of freedom for the development of the TRUMP token, but also poses greater risks for investors. If regulatory policies change in the future, the TRUMP token may be significantly affected. For example, if the SEC classifies it as a security, it will be subject to stricter regulations, including requirements for information disclosure, compliance operation, etc., which could impact its existing operating model and market performance. For investors, the TRUMP token is full of opportunities and risks.
On one hand, its significant price fluctuations provide investors with the possibility of obtaining high profits; during the price increase phase, early investors indeed received substantial returns. On the other hand, the high uncertainty and risk of the token cannot be ignored. Its price fluctuations are influenced by various complex factors, including Trump's political dynamics, market speculative sentiment, and regulatory policy changes, making it difficult for ordinary investors to accurately grasp. Furthermore, the highly centralized distribution model of the token and the potential political connections behind it increase the potential risks of investment. If the market's expectations of Trump's political influence change or negative political events occur, the price of the TRUMP token may suffer a heavy blow. The TRUMP token, as a unique entity born against the backdrop of politics and cryptocurrency intertwining, has sparked widespread attention and intense discussions in the market.
Its emergence not only challenges the traditional financial and political order but also brings new thoughts and challenges for investors and market participants. In future developments, where will the TRUMP token go? Will it continue to rise and fall in the market's waves, or will it gradually fade into silence? Let's wait and see. Regardless of the outcome, it has left a significant mark in the development history of cryptocurrency, becoming a typical case for studying the interaction between politics and finance.
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