Newly Launched Official TRUMP Meme Coin Hits The Market By Storm:  Marketcap Soars Above $10 Billion

The cryptocurrency was off to an exciting start in the morning courtesy of President Donald Trump. The buzz was about his newly launched TRUMP coin which was rolled out on the Solana network.

There were other TRUMP tokens in existence prior, that were created to take advantage of presidential election hype.

However, none have received more attention than this latest TRUMP token and that is because the man himself endorsed it as the official TRUMP meme coin.

Social sentiment quickly rallied around the new memecoin, making it one of the top trends on X. The market also reacted with robust demand, resulting in an eye-watering performance.

TRUMP Debuts With Record Volume

The new TRUMP memecoin may have just set some interesting records.

For example, the Peanut the Squirrel (PNUT) was previously the fastest memecoin to cross the $1 billion marketcap milestone. It achieved this in 11 days after launch.

– Advertisement –

The TRUMP memecoin now carries that crown after achieving the same milestone less than 24 hours after its launch. Its marketcap went as high as $3.80.

The new memecoin’s record-breaking volumes were more impressive. For context, fully diluted volume soared above $17 billion in TRUMP memecoin’s first trading day after launch.

The memecoin’s impressive demand fueled its rally from its $6.25 day’s low to $19.22 at its recent peak. A 205% uptick in one day.

But what’s next for this budding memecoin? Its launch came just 3 days before President Trump’s inauguration.

This suggests that it could just be the start of more upside, with the possibility that the first wave of profit-taking could occur soon.

If the TRUMP memecoin maintains this trajectory, then it could potentially rival some of the top memecoins. It had already climbed to the 4th largest memecoin by marketcap according to Coingecko.

Whales Have Been Capitalizing on The TRUMP Memecoin Launch

Initial reports revealed that whale activity around the new TRUMP memecoin was strong. For context, one of the whales reportedly acquired $1 million USDC worth of the coin seconds after its launch.

The investment reportedly yielded over $23 million worth of profits. These impressive gains also underscore the possibility that profit-taking could soon take place.

Once it does, some of these whales will could potentially pull enough liquidity for the first major reversal.

While the initial market response was favorable, it could be too early to tell whether the new memecoin can sustain the current trajectory.

Especially with whales sitting in deep profits. On the other hand, the impressive start could potentially encourage more liquidity inflows and focus on long term gains.