On Friday evening in Washington DC, President-elect Donald Trump announced the launch of a Solana-based memecoin, TRUMP, just days ahead of his second-term inauguration.

The announcement, made via posts on his verified X and Truth Social accounts, has sparked excitement, confusion, and intense debate within the crypto community.

The TRUMP token quickly became the center of attention, skyrocketing to a market capitalization of over $30 billion within hours of its release. Initially priced at $0.18, the token surged to over $30 in less than 24 hours, delivering staggering returns to early buyers.

Trading volumes reached over $9 billion, underscoring the market’s fervent response to Trump’s latest venture.

Concerns over legitimacy and token distribution

The launch, however, was not without its share of controversy. Many in the crypto space questioned the legitimacy of the project, speculating whether Trump’s social media accounts had been compromised or if the memecoin was part of a sophisticated scam.

A major red flag was the token’s ownership concentration—80% of the total supply is reportedly held by entities linked to Trump. This sparked fears of potential market manipulation and extreme price volatility.

Community reactions: polarized perspectives

Reactions within the crypto community have been deeply divided. Supporters lauded the launch as a groundbreaking endorsement of digital assets, with some viewing it as a catalyst for a potential altseason. Social media buzzed with comments celebrating Trump’s innovative approach to crypto, framing it as a bold move to solidify his presence in the digital economy.

On the other hand, critics expressed skepticism, labeling the token as “pure gambling” and warning of the inherent risks of memecoins. Concerns about the volatile nature of politically affiliated tokens have further tempered enthusiasm among more cautious investors.

TRUMP’s political and regulatory im
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Author: News Desk

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