Title: President Trump's Meme Coin Soars to Billions
Trump, self-proclaimed as the "Bitcoin President," makes a statement before his White House return, introducing his own "meme coin" named "$TRUMP." Based on Solana's cryptocurrency platform, it's a tradable, digital commemorative coin. Announcing it on his online platform, Truth Social, the currency quickly gains traction, reaching a market value of around $13 billion within a few days.
Launched with 200 million units, the plan calls for another 800 million over three years. Eighty percent of the "$TRUMP" coins will be controlled by two companies linked to the Trump Organization: CIC Digital and Fight Fight Fight. The latter's name and coin logo are inspired by Trump's response to his July attack, where he raised his fist and proclaimed, "Fight! Fight! Fight!" These companies stand to benefit significantly if the crypto coin gains popularity.
The digital currency's website claims it's not intended as an investment object or security. Instead, it serves as an "expression of support" for the ideals and beliefs represented by the "$TRUMP" symbol. Trump's recent digital collectible card sales to supporters provide a precedent to this latest venture.
Enrichment Data:
- The token, launched on January 18, 2025, saw an $8 billion market capitalization within three hours and surged by 300% from its initial price of $0.18 to $7.1.
- Despite its initial success, the token's value plummeted by about 50%, reaching a current fully diluted value of around $38 billion.
- The total supply of $TRUMP tokens is 1 billion, with 200 million units available at launch.
- Public distribution accounts for 20% of the remaining supply, and another 10% is allocated for "liquidity."
- CIC Digital LLC, an affiliate of the Trump Organization, controls 80% of the tokens, with a structured release mechanism to mitigate risks associated with large-scale sell-offs and promote market stability.
The remarkable success of "$TRUMP" initially led to an $8 billion market capitalization within just three hours of its launch on January 18, 2025. However, the economy of the digital currency has shown volatility, as its value subsequently dropped by approximately 50%, leaving it with a current fully diluted value of around $38 billion.
The economy of this meme coin, which is not intended as an investment object or security, has a total supply of 1 billion tokens, with only 20% of the remaining tokens available for public distribution.
