TRUMP Coin Overtakes SHIB And PEPE— But Can It Overtake DOGE?

In a weekend that shook the meme coin world, TRUMP Coin made headlines by surpassing SHIB and PEPE in market capitalization, positioning itself as the second-largest meme coin behind Dogecoin (DOGE).

As of January 19, 2025, TRUMP Coin’s market cap soared to approximately $13 billion, pushing past SHIB and PEPE in approximately 36 hours.

But while this meteoric rise has captured the attention of traders and investors alike, the key question remains: Can it challenge DOGE’s dominance?

Meme Coins Feel the Heat

TRUMP Coin made its debut on Friday 17, 2025, quickly making waves across the cryptocurrency landscape.

In less than 48 hours, its value surged to over $60 per token, a striking feat for any newly launched coin.

By January 19, TRUMP Coin’s market cap had reached approximately $13 billion, according to data from CoinMarketCap (CMC) and CoinGecko (CG).

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While TRUMP Coin and SOL soared, the broader meme coin market suffered.

This rapid rise has placed it squarely ahead of PEPE and SHIB, which had long been two of the top contenders in the meme coin category.

Crypto analyst Ali (@ali_charts) highlighted the phenomenon on his X account, saying:

The timing of TRUMP’s launch could not have been more significant.

Within less than 24 hours of its release, the token had garnered the attention of the entire crypto community, with volumes surging well into the millions per minute.

With over $11 billion in trading volume recorded in its first day, the coin appears to be drawing in significant liquidity, largely driven by TRUMP’s public image and the inherent novelty factor of a token launched by a sitting president.

SOL Hits ATH Driven by TRUMP Coin

As if TRUMP Coin’s rally wasn’t enough, the blockchain that hosts it, Solana (SOL), is also benefiting from the token’s success.

SOL has seen a remarkable rise in value, reaching an all-time high of $280 on January 19, 2025.

This rally can be attributed to the successful launch of TRUMP Coin on the Solana blockchain.

The cross-pollination of success between TRUMP Coin and SOL is undeniable, with both assets seeing impressive growth in the wake of the meme coin’s rise.

The rapid rise of TRUMP Coin has caused a significant shift in the meme coin ecosystem.

SHIB and PEPE, two of the most well-known meme coins in recent years, have seen their positions eclipsed by TRUMP Coin.

For SHIB, the decline in market position comes as a result of multiple factors, including a decrease in trading volume and outflows from major exchanges.

As of January 19, SHIB’s price had dropped by 9.4% in just 24 hours, marking a significant retreat from its previous gains.

On the other hand, PEPE’s decline has been equally stark, as it lost its third-place position to TRUMP Coin before it eclipsed second place SHIB.

As of press time, PEPE’s price had dropped by 15.1% in just 24 hours, marking a huge retreat from its previous gains.

DOGE—Undisputed Memecoin King

Despite TRUMP Coin’s impressive gains, DOGE remains the reigning champion of the meme coin market.

DOGE’s market cap currently stands at over $54 billion, significantly higher than TRUMP Coin’s $13 billion.

As of January 19, 2025, DOGE is trading at $0.36, a 7.7% drop over the last 24 hours.

However, DOGE has faced a resurgence in demand, with over 200 million tokens accumulated by whales within just 48 hours, signaling renewed investor optimism.

A major factor working in DOGE’s favor is its longstanding community and widespread recognition.

With celebrity endorsements and a history of viral campaigns, DOGE has managed to sustain its position as the dominant meme coin, even as new challengers like TRUMP Coin emerge.

As of now, the total cryptocurrency market cap stands at $3.59 trillion, reflecting an overall stable market despite fluctuations in individual assets.