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On January 17, 2025, the cryptocurrency market witnessed a remarkable surge following the announcement of former President Donald Trump’s official meme coin, ‘TRUMP.’
The launch, which took place on Trump’s social media platform, Truth Social, generated significant excitement and activity within the crypto community. Within just one hour of the announcement, one trader reportedly made a staggering profit of $20 million.
Trump introduced the new meme coin with a celebratory message: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” This statement set the stage for what would become a highly discussed topic across various social media platforms.
Explosive growth and market impact
According to reports from Cryptotimes, the $TRUMP meme-coin quickly gained traction, skyrocketing by over 4,200% within two hours of its launch and achieving an impressive market capitalization of $7.7 billion. The rapid increase in value has sparked widespread discussions, debates, and a sense of urgency among investors eager not to miss out on the opportunity.
One particularly savvy trader capitalized on the coin’s early momentum by purchasing nearly 6 million TRUMP coins for around $1.1 million using USDC. Remarkably, within just 90 seconds, this investment surged in value to approximately $23 million. While the trader has sold only a small portion of their holdings, they still retain 5.43 million TRUMP coins, resulting in a profit exceeding $20 million.
Concerns amidst the frenzy
While the launch has attracted many users and investors, it has also raised concerns regarding potential account theft and other security issues. Nevertheless, the focus remains on the unprecedented price increase of the TRUMP coin and the substantial profits made by early investors.
As reported by Introbillion at Binance, with 200 million tokens already in circulation, trading volume has reached $1 billion, and the market cap has soared to $14.5 billion. The launch of ‘TRUMP’ has undeniably created a buzz in the cryptocurrency landscape, marking a significant moment in both political and financial spheres.
