The crypto market continues to experience high volatility, with Bitcoin fluctuating between $103,450 and $105,000 before settling at $104,800. However, the spotlight has shifted toward TRUMP Coin and Solana (SOL), drawing significant interest and liquidity, while other cryptocurrencies struggle.
A Bold Crypto Success Story
Trump’s surprise tweet announcing the launch of his own meme coin initially sparked skepticism. Many investors suspected a scam, recalling past incidents where hacked celebrity accounts promoted fake tokens. This time, however, the token was real, and so was the hype.
TRUMP Coin quickly surpassed $170 million in market cap and now hovers around $14 billion. Its fully diluted valuation (FDV) is even higher at $70 billion, outpacing Dogecoin by a wide margin.
One daring investor purchased $1.09 million worth of TRUMP Coin early on. Today, those holdings are valued at a staggering $185 million. According to The Kobeissi Letter, within just 14 hours, the token’s value grew 50x. With the price now exceeding $60, the investor’s unrealized gains have reached $370 million.
TRUMP Coin’s Meteoric Rise
Similar to the GameStop frenzy of 2021, TRUMP Coin has captured global attention. Nearly all major centralized exchanges, including Binance, have listed the token. More impressively, TRUMP Coin’s market cap has climbed to 16th place, surpassing Shiba Inu and becoming the second-largest meme coin.
As of this writing, TRUMP Coin has overtaken TON Coin in market capitalization, nearing $13 billion. With a daily trading volume of $16.76 billion, this token is driving one of the most extraordinary events in crypto history.
Future Outlook
TRUMP Coin’s maximum supply is capped at 999.99 million, with 200 million tokens currently in circulation. While the token’s popularity could wane over time, potentially leading to price declines, Trump’s actions in the crypto space may influence long-term growth.
When Trump officially assumes office on Monday, a “sell the news” scenario could trigger a rapid correction. However, if Trump introduces supportive crypto policies, the token’s upward trajectory could continue in the medium to long term.
For detailed analysis and updates on TRUMP Coin and the broader crypto market, visit Dey There.
