President Trump announced the launch of his meme coin, $TRUMP, in a post on X and Truth Social on Friday, January 17th, 2025. He said the cryptocurrency celebrates his "WINNING" of the presidential election and his upcoming inauguration.
The $TRUMP quickly became a standout in the meme token market. Just hours after its release, the token's price shot up by over 5000%, raising its market value to an all-time high of 10 billion USD. At its peak, $TRUMP's market cap even exceeded that of popular memes like SHIB and PEPE, marking a major achievement for celebrity meme tokens.
Trump coin tokenomics
$TRUMP has a circulating supply of 200 million tokens, and according to the coin's website, the total supply is set to grow to 1 billion over the next three years.
Currently, 80% of the tokens are held by CIC Digital LLC, an affiliate of the Trump Organization, and Fight Fight Fight LLC, a Delaware company. Both companies will earn undisclosed revenue from trading activity.
The token's current market cap is $12.13B, and its 24-hour trading volume is $52.88B. Its FDV is $60.67B.
The website notes that $TRUMP is not an investment or a security and has no political affiliations or ties to any campaign or government entity.
The $TRUMP coin follows Trump's history of selling branded merchandise like $100,000 watches, $60 bibles, and NFTs, generating millions in revenue. Critics, however, question the coin's centralized ownership and potential political motives as it launched close to his second presidential term.
How to swap $TRUMP in tangem
To swap OFFICIAL TRUMP in the Tangem Wallet, follow these steps:
- Open the Tangem Wallet app.
- Tap on the search bar and enter OFFICIAL TRUMP.
- Tap the token and then tap Add to Portfolio.
- Return to the main screen and tap Swap.
- Choose the token you want to exchange for $TRUMP. We recommend Solana (SOL) or USDC on the Solana chain.
- Choose the token you want to receive, i.e., $TRUMP.
- Enter the amount you want to swap.
- Choose between Changelly or Simpleswap, or let Tangem Express pick the most profitable provider for your transaction.
- Tap Swap.
- Enter your access code or biometric ID and sign the transaction with your Tangem card or ring.
- Once the transaction is complete, $TRUMP tokens will be deposited in your Tangem Wallet.
Note:
- Ensure you have enough SOL coins to cover transaction fees.
- Due to the currently high volatility, the slippage percentage may rise.
- The Solana network is currently congested due to activity surrounding the launches of $TRUMP and $MELANIA.
Trump meme coin's background
Trump, whose campaign was supported by several wealthy individuals with connections to the cryptocurrency sector, has asserted that he aspires for the United States to become the "crypto capital of the world." His victory in the election sent Bitcoin to new heights, surpassing $100,000 just a month after the election.
In 2024, the global cryptocurrency market saw a significant increase in value, with CoinGecko reporting that approximately $1.8 trillion was added to the total market value. This includes $1 trillion in value since the election.
What crypto policies has Trump proposed?
Trump has announced that he will use his executive authority to ease regulatory constraints for cryptocurrency companies, including establishing a new advisory council for the crypto industry.
The president has reportedly planned to issue an executive order declaring cryptocurrency a policy priority and instructing government agencies to collaborate with the industry. This order would also create a cryptocurrency reserve, allowing the federal government to purchase and sell the digital currency.
The news of Trump's intentions for the crypto sector caused the price of Bitcoin to soar above $105,000 on Friday, marking the highest price for the coin in nearly a month.
Controversy around the Trump meme coin
The debut of $TRUMP has not been without controversy. Doubt persists due to the coin's concentrated ownership, which raises questions about centralized control and its potential for political manipulation. The official website denies any political affiliations, yet the coin's launch just days before Trump's second term has led some to speculate about underlying political motives.
Most people expressed shock and had negative opinions of the launch.
Trump's crypto team
Key members of Trump's administration also support cryptocurrency:
- Scott Bessent (Treasury Secretary): Holds shares in a bitcoin ETF.
- Howard Lutnick (Commerce Secretary): Manages billions in Tether and supports Bitcoin.
- Elon Musk (Department of Government Efficiency): Advocates for Bitcoin and Dogecoin.
- Vivek Ramaswamy: Filed to launch a bitcoin investment ETF.
- David Sacks: Oversees AI and crypto regulations.
- Paul Atkins: Expected to deregulate cryptocurrencies as SEC Chair.
Final
While $TRUMP has disrupted the crypto market with its high trading volume, its long-term stability and credibility remain uncertain. Critics and supporters alike are closely watching its performance.
Solana, a cryptocurrency platform, has created a new digital currency called $TRUMP. Initially, only 200 million coins were available, but the plan is to increase the total supply to 1 billion over the next three years, as stated on the coin's website.