On January 18, U.S. President-elect Donald Trump announced the launch of his “official” meme coin, TRUMP, on the Solana blockchain. Within one day, the token surged by 220%, with a fully diluted valuation (FDV) of $62 billion.

At press time, TRUMP trades at about $68.8, giving it a market capitalization of $13.6 billion. It has already climbed to the 16th spot among the largest cryptocurrencies, surpassing TON and SHIB. Its 24-hour trading volume is nearly $2 billion.

Impact on the Market

While most of the crypto market remains relatively stagnant, the hype around TRUMP has spiked activity in Solana’s network, pushing SOL to new all-time highs. Currently, SOL is trading around $286 at peak levels.

The token is listed on centralized exchanges like Binance, Bybit, HTX, Gate, and Bitget.
DEX trading on Solana also hit record levels, with daily volumes hovering around $21 billion for two consecutive days.

TRUMP Tokenomics

On launch day, the circulating supply stood at 200 million TRUMP, out of a total supply of 1 billion. Per the project’s website, these tokens are set to unlock gradually over three years.

100 million TRUMP allocated for public distribution.
Another 100 million for liquidity provision.
The remaining 800 million TRUMP are for the “creators” and CIC Digital—an entity associated with Trump’s NFT project. The first unlock is scheduled in three months.

Scott Melker, a crypto trader and host of The Wolf Of All Streets podcast, described Trump’s meme coin as a “major boon” to cryptocurrency yet “a detriment to humanity.”

$TRUMP

First take. My opinion could change.

Good for crypto, bad for humanity.

It’s a gratuitous cash grab, not sure how anyone can argue against that. The future and past President of the United States launched a token at 10 pm on a Friday night and insiders sniped the…
— The Wolf Of All Streets (@scottmelker) January 18, 2025

“It’s a baseless money grab—hard to argue otherwise. A past and future U.S. president launched a token […] and insiders bought it out. The remaining 80% also belongs to them. They’re making billions. […] Trump’s likely drawing millions of fresh users into crypto—let’s just hope it doesn’t implode,” he wrote.

Following the launch on the Moonshot platform (which Trump used to promote the token), over 200,000 new users registered.

Today marks 6 months since launch.

In the last 12 hours, we were featured on $TRUMP’s website as THE way to buy, processed nearly $400m in volume, crushed fiat onramp records by orders of magnitude, and brought 200k+ new people onchain.

We have an extremely high load right now…
— Moonshot (@moonshot) January 18, 2025

Concerns and Hopes

According to Arkham Intelligence, if CIC Digital and Fight Fight Fight—which collectively hold 80% of TRUMP’s supply—are effectively owned by the president-elect, his net worth has increased multiple times over.

At the current token price of $70, Trump’s holdings could be worth around $56 billion. By Forbes estimates, as of November 2024, his assets amounted to $5.6 billion—signifying a more than tenfold increase.

In response to community concerns, crypto enthusiast Eric Scott argued that having 80% of the supply in the politician’s control “makes TRUMP one of the safest coins to hold.”

TRUMP'S NET WORTH QUINTUPLES OVERNIGHT TO $28 BILLION

Donald Trump's net worth is up $22 billion overnight, assuming CIC Digital LLC and Fight Fight Fight LLC, which collectively own 80% of the $TRUMP supply, effectively belong to him.

At the current price of ~$28, that stake… pic.twitter.com/N7hH9QUSt9
— Arkham (@arkham) January 18, 2025

TradeZella founder Umar Ashraf believes it’s inappropriate for Donald Trump, given his position, to own or promote any meme token.