Donald Trump Launches His Own Solana Meme Coin: Is This a Crypto Revolution or a Scam?


In a stunning move, Donald Trump has introduced his very own Solana meme coin called TRUMP, just days before his second term inauguration. The coin’s launch was announced on his official social media accounts, including Truth Social and X, sending shockwaves through the crypto community. Initially met with excitement and skepticism, many wondered if this was a legitimate launch or a scam.

Within minutes of the announcement, Degen traders jumped in, generating hundreds of millions in trading volume. However, initial concerns about potential scams arose, as the project appeared to share similarities with previous celebrity-driven crypto scams. Despite these fears, both X and Truth Social posts remained active for over an hour, and some of the red flags were cleared upon closer inspection.

The coin’s website closely resembles past promotional pages used for Trump’s NFT collections, and it’s linked to CIC Digital, Trump’s official NFT licensee. This connection has provided some assurance that the TRUMP coin may not be a fraudulent project, though questions still remain about its legitimacy. Blockchain experts are still combing through the details.

Despite the early skepticism, the TRUMP coin is gaining traction, pushing its price to $7.31 and a market cap of $7.1 billion. However, experts caution that most of the circulating supply is locked, which affects the true market cap, currently closer to $1.5 billion. With millions in trading volume, the coin is rapidly gaining attention, but will it be able to sustain this momentum?

Trump, who has previously backed cryptocurrency platforms and supported decentralized finance, may be positioning himself as a key figure in the crypto space. His potential executive orders on cryptocurrency could signal major shifts in the market. As of now, crypto enthusiasts are eagerly watching this wild new venture unfold. Is this truly a revolution for the industry, or is it just another fleeting meme coin trend?