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Source: TRM; Compilation: 0xjs@bitchain Vision
On January 18, then-President-elect Donald Trump launched the $TRUMP token, a Meme coin on the Solana blockchain, marking an important step in his cryptocurrency space.TRUMP tokens are announced through X and Truth Social and are advertised as a digital asset that embodies community values and “victory.”Based on the Solana blockchain, the $TRUMP token utilizes the blockchain’s high-speed, low-cost transaction infrastructure, making it very efficient in transactions and integration within the ecosystem.
After $TRUMP was launched, the incoming first lady announced on Sunday that she also launched her own Meme coins on Solana.”The official Melania Meme coins are online!” She posted on the X platform.After the release of the MELANIA token, its total market value quickly soared to about $1.6 billion.
The specific situation of TRUMP tokens includes a total supply of 1 billion pieces.At launch, 200 million tokens (20%) are available for public purchase via the official $TRUMP website, supporting payments with debit cards and cryptocurrencies.The remaining 800 million tokens (80%) were allocated to CIC Digital LLC, an affiliate of the Trump Group.These reserved tokens are locked for 3 to 12 months and then unlocked over the next 24 months according to the daily step-by-step unlock schedule.This organized release mechanism is designed to reduce the risks brought about by large-scale sell-offs and ensure market stability.
Meme Coin
Meme coins are a unique digital currency that develops based on Internet culture, Meme and social trends.Unlike cryptocurrencies such as Bitcoin or Ethereum that are built on technological innovations or specific practical features, the value of Meme coins is mainly due to community engagement and the attractiveness of virality.These tokens are popular on platforms such as X, Reddit and Telegram, and are often speculative in nature, with market performance driven by hype rather than inherent functions.
Highlights of Meme coins include Dogecoin (DOGE), which was a joke at first but later became one of the most well-known cryptocurrencies; and Shiba Inu Coin (SHIB), often called the Dogecoin Killer, at its peakThe market value reached billions of dollars during the period.Others, such as the PEPE coin based on the Internet Meme “Pepe Frog” and the FLOKI coin inspired by Elon Musk’s dogs, are highly praised for their community-driven growth.focus on.These tokens show the speculative and volatile nature of meme coins.
Market performance and response
Shortly after $TRUMP was launched, its value rose rapidly.The price first rose to about $10 per coin, then soared to a peak of $74.59 within a few hours, and then stabilized at around $52.This rapid growth has pushed the token’s market cap to nearly $11 billion, putting it among the leading cryptocurrencies in valuation.
The launch of TRUMP has attracted great attention from retail investors and cryptocurrency enthusiasts, thanks to Trump’s global popularity and the cultural appeal of Meme coins.However, this popularity has also triggered a scrutiny of potential conflicts of interest and such token regulatory frameworks.
Worry about running away
Since its launch, the media has raised some questions about whether this could be a “run away” or “pull up shipment” scam.”Running away” is a cryptocurrency scam where developers suddenly pull liquidity out of the project, causing the token value to plummet, making the assets in investors’ hands worthless.”Pull up shipments”, as the name suggests, means that the asset owner artificially raises the value of the asset and then sells it when the asset reaches its peak.
As of January 21, 2025, although the value of the token has dropped to about $38 per coin, down 50% from last weekend’s high, $TRUMP does not have the characteristics of a recent “pull up shipment” scam.According to the Commodity Futures Trading Commission, “pulling shipments” often involves fake news reports, anonymous organizers, and the entire process can end in minutes.
For example, in October 2021, scammers launched a token called $SQUID, which is named after the popular Korean Netflix series “Squid Game”.Its gorgeous website and beautiful social media accounts are filled with pictures of the show, giving the illusion of official recognition.Prices soared over 40,000% in a few weeks after $SQUID was launched.But when holders are eager to cash in on their gains, they are turned away by smart contracts that support the tokens.It turns out that these contracts are only allowed to be sold by the creator.When the creator cashed out, the price of $SQUID plummeted from $2,862 to less than a cent, leaving investors losing all their money.In an instant, anonymous scammers took millions of dollars away, some of which were transferred through currency mixers and other on-chain money laundering methods.
In addition, well-known and licensed exchanges are offering $TRUMP transactions on their platform (which is not common for Meme coins that get rich overnight), and the reserved tokens are locked for up to 12 months and are in twoThe gradual unlocking within the year reduces the risk of sudden selling, which is a typical feature of “running away” or “pulling up shipments”.
Value trends since launch, data from Coinmarketcap.com
While tokens with similar themes, such as the Solana-based Trump Coin (DJT), launched in June 2024, are related to fraudulent activity, $TRUMP has shown relative stability and transparency since its launch.Despite initial doubts, no sudden liquidity withdrawal or developer misconduct occurred, further supporting the conclusion that $TRUMP does not have the “run” characteristics, although the situation changes very rapidly in the Meme currency field running around the clock.However, the large amount of internal allocation has sparked discussions about the volatility and foreign influence of the meme currency market and highlighted the need for regulatory oversight in the evolving Meme currency field.
TRUMP creator activities
The $TRUMP token is created on the Solana blockchain with the address 6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN.
Through the TRM forensics tool, we can see detailed information about transactions and other assets related to this address.
The $TRUMP address seems to hold other Meme tokens, such as
“Trump Second Chance” (ETJ3eax4qn5EezzsarNuxEJamD67KXa7z8W4uKEWpump),
“Official Trump Coin” (BAKr8e4iV1Y2c2XJxVFhbMyYnfcRU4dvkaKzQUsepump)
and “Mark Cuban Meme” (AVH97ZaMnUmZYGdSJTEJ6KRSicxGGf7ijQ994rm5pump).
These additional Meme coin addresses end with “pump”, which likely means that they were created for trading on the pump.fun platform.
It is unclear whether the creator intends to launch these additional Meme coins next, or that the creator of $TRUMP has two other tokens related to President Trump (it seems to be ready to launch) and Mark Cuban Meme coins, does this have special significance?
The impact of $TRUMP on community and cultural levels
As a Meme coin, $TRUMP integrates cultural and political narratives, and while becoming a speculative asset, it also promotes community participation.Its launch has sparked discussions about the integration of politics, digital assets and investor behavior.Despite the criticism, the success of $TRUMP shows the growing influence of cultural figures in the cryptocurrency space, which brings both opportunities and challenges.
Although there is currently no evidence that $TRUMP is a “run away” scam, its large amount of internal personnel allocation and its cultural prominence indicate the need for meticulous supervision.
