Last night, Donald Trump launched his own memecoin on Solana (SOL), and this new token has already seen its price explode. Is this really a serious project?
Donald Trump presents his memecoin
Even if you have to expect anything with Donald Trump, his latest initiative seems so improbable that we initially believed it was a hack of his X account. However, hours passed and the said message was also shared on Truth Social: the 47th President of the United States is indeed launching his memecoin Official Trump.
Message from Donald Trump on Truth Social
💡 How to buy a memecoin?
So, the TRUMP was deployed on Solana (SOL) and is already trading at $21 at the time of writing, up more than 11,000% since its launch, for a capitalization of more than $4 billion. All these figures therefore place the token in 46th place in the ranking of cryptocurrencies and in 4th place in the memecoins category.
On the “project” website we can read the following call to action:
This is YOUR chance to join a community that fights for what matters. The TRUMP meme encourages a culture of achievement and optimism to make the world a better place.
Buy and trade crypto on Solana’s top-performing DEX
When it comes to tokenomics, the community in question nevertheless seems somewhat relegated to second place, given the fact that only 20% of tokens are dedicated to it. Thus, the remaining 80% is reserved for the development team, with a release which will be spread over 3 years and will begin next April:
Tokenomics of the TRUMP token
In addition, let us also note that a mention is repeated several times, the twist of which seems to be intended to protect against possible prosecutions by the Securities and Exchange Commission (SEC):
Trump memes are intended to express support for and commitment to the ideals and beliefs embodied in the “$TRUMP” symbol and associated artwork, and are not intended to be, or to be the subject of, investment opportunity, an investment contract or a security of any type.
👉 Also in the news — Donald Trump wants to make cryptocurrencies a national priority
As with all memecoins, caution should be exercised, even if it's Donald Trump. For its part, the MAGA suffered the blow in the face of this novelty, collapsing by 56% over 24 hours.
GMGN: the platform to buy meme coins easily
Sources: TRUMP website, Truth Social
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Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
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