The cryptocurrency market saw a massive reaction on January 17 when Donald Trump, the recently elected President of the United States, unveiled his official meme coin, “TRUMP”. Within the first hour of the news, one trader received a $20 million windfall in less than an hour.
Donald Trump launched the new coin on his social media platform, Truth Social, with these words: “My NEW official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!”
According to Cryptotimes, The launch of Donald Trump’s $TRUMP memecoin on Solana has taken the crypto world by storm, becoming the hottest topic on several social media platforms. In just two hours after its launch, the coin surged over 4,200%, reaching a staggering market cap of $7.7 billion. This sudden launch, combined with its massive growth, sparked debate, confusion, and FOMO on social media.
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 $ASSET NOW. Go to – Have fun! pic.twitter.com/flIKYyfBrC
– Donald J. Trump (@realDonaldTrump) January 18, 2025
According to the news portal, one trader acted quickly and purchased almost 6 million TRUMP coins for around $1.1 million using USDC. In 90 seconds, this trader’s investment was worth $23 million. So far, they have only sold a small portion but still have 5.43 million TRUMP in their hands, giving them a profit of over $20 million, according to Lookonchain.
The explosive launch attracted many users, but questions about account theft also arise. However, TRUMP coin price increase and trader profits are currently the main talking points in the crypto sphere.
According to Introbillion at Binance, with 200 million tokens in circulation, it has already reached $1 billion in trading volume and a market capitalization of $14.5 billion.
