Trump Launches Meme Token TRUMP, Crypto World Takes Notice

Trump Launches meme token TRUMP  which soars to $1.2 billion market cap, but concerns over ownership concentration and volatility remain for investors.

Donald Trump recently announced the launch of his personal meme token, TRUMP, on his Truth Social account. Interested investors can buy these tokens on a website called “gettrumpmemes.” This was also shared via Trump official X account.

The token received significant attention from the crypto community. According to GMGN data, TRUMP’s market capitalization rose to about $1.2 billion within just 30 minutes of its launch. It is no surprise that many crypto enthusiasts are paying attention to this rapid rise in value.

However, people are not happy with the distribution of the tokens. A report reveals that a single address controls 80% of the TRUMP tokens. Also, the top five position holders control over 90% of the total supply. One question raised around the token’s distribution is, as usual, this high concentration of ownership. There is also the question of whether smaller investors will have any meaningful hope of profiting from it.

TRUMP Token Trader Makes $20 Million in One Hour

Some investors are already making hefty gains. TRUMP has allowed a trader to generate over $20 million in just one hour, according to Lookonchain. About 90 seconds after launch on Truth Social, the trader spent 1.1 million USDC to pick up 5.97 million TRUMP tokens, which are currently worth about $23 million.

The remaining supply (valued at $3 billion) is controlled by the token’s creator who has locked up 80% of it. The concentration of tokens has also caused concerns around the long-term stability of the TRUMP token and market impact.

Experts still caution as the situation unfolds. The token’s rapid market cap growth is impressive. However, it is equally important to the risk of high ownership concentration and market volatility. The advice to investors is to do their research, to stay informed and not to make decisions out of fear.

Lastly, TRUMP rocketed to the scene, with its market capitalization reaching $1.2 billion in under 30 minutes. But when it comes to testing out this token, concerns over its distribution and ownership structure indicate that it should be approached with care. However, time will tell if the token will be able to survive in the world of cryptocurrencies.