On the evening of Friday, January 17th, 2025, just days before Donald Trump's inauguration on January 22nd, he announced the launch of his meme coin, $TRUMP, based on the Solana blockchain. Initially priced at approximately $6 on Saturday, the coin skyrocketed to $75 by Sunday, marking a staggering 1150% increase. However, by Tuesday evening, the coin had plummeted to $40, losing almost half of its initial gains.
The launch of the meme coin has sparked diverse speculations. Some argue that it was created to enrich a select few, citing the significant drop in value on Tuesday as an indicator. Others believe it primarily benefited early adopters.
Meme coins are cryptocurrencies created based on characters, individuals, animals, artwork, or other humorous and trend-driven themes. These coins attract a community base but are best known for their volatility and lack of intrinsic value. Meme coins typically lack utility, as they cannot be used for payment for goods or services and are only convertible to fiat currency when listed on centralized exchanges. Notable examples of meme coins include Dogecoin, Shiba Inu, Pepe, Dogewithhat, Bonk, and Floki.
Claims have also emerged regarding the financial gains from $TRUMP. According to CNN Business, the Trump Organization allegedly made an estimated $58 million in a single day from trading fees alone. However, a Forbes report dismissed this claim as "misguided."
The Official Trump website lists two entities as owning a collective 80% of $TRUMP’s supply: CIC Digital LLC, an affiliate of Trump’s Organization, and Fight Fight Fight LLC, a recently incorporated business with unclear ownership. The website does not specify the division of ownership between these entities.
Even if Trump controlled the entire stake, reports attributing a $58 billion windfall to the weekend peak of $TRUMP were deemed misleading by Forbes. The inflated figure was based on the coin’s fully diluted valuation, which multiplies $TRUMP’s price by the total number of coins that may eventually become available — even though many of these coins are not yet circulating. Forbes emphasized that 800 million $TRUMP coins are currently locked and could be released gradually over three years.
Opinions about the launch of $TRUMP remain divided. Some view it as part of President Trump’s ambitious promises to integrate cryptocurrency, while others are skeptical, stating, "Whether this is a good initiative or not, only time will tell."