Donald Trump has always been synonymous with spectacle and his victory in the 2024 US presidential elections was probably the biggest spectacle in recent times. The new president-elect had promised a lot of things to the crypto industry during his campaign. Apparently no one had a clue about the $TRUMP meme coin and its arrival time. Trump launched his new coin just days before his inauguration at the White House, making it a headline-worthy event around the world. Within hours of its launch, the price of $TRUMP increased by over 300% and siphoned liquidity from the market. Let’s learn more about the meme Trump threw with a look at its important details and broader implications.
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Discover the fundamentals of $TRUMP
By launching the Trump coin, he proved his commitment to the growth of the crypto space. Trump has already appointed crypto-friendly officials to his administration to reduce the burden of oversight and regulation on crypto companies. The new president also aims to create a strategic Bitcoin reserve that will strengthen the US government’s association with cryptocurrencies. With his new coin, Trump showed that he was faithful to his promises to promote cryptocurrencies.
The meme piece is an image of Trump with his fist in the air and the words “FIGHT, FIGHT, FIGHT” which celebrates strength and courage. It commemorates the moment in history when Trump escaped an assassination attempt. The meme coin’s website also states that it celebrates Trump’s indomitable spirit in the face of all obstacles.
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Trump Meme Coin Allocation
Meme coin attribution had never been a topic of interest in the crypto space before the arrival of $TRUMP. On the first day, the project launched 200 million coins and the total supply was capped at 1 billion. The project will allocate coins to different groups according to their schedule over a 3-year period.
It is also important to know that the Trump Coin crypto asset raises concerns regarding uneven allocation. The meme coin’s website states that 80% of the unallocated coins will go to CIC Digital LLC, a subsidiary of The Trump Organization and Fight Fight Fight LLC, another recently formed company in Delaware.
The unequal allocation also raises concerns, as the two companies will not only get 80% of the total Trump coins, but also the revenue from trading activity. Critics have pointed out that the new token represents a deep conflict of interest of Trump as president and businessman.
Getting your first $TRUMP coins
The crypto industry has had many surprises since cryptocurrencies first arrived. Among the many notable events in crypto history, the launch of the $TRUMP coin will always be a memorable milestone. This is the first time crypto assets have entered the political arena. Many people in the crypto industry were surprised when Trump officially launched a coin via a post from Truth Social. He also urged his followers on X to join the special Trump community and promoted the $TRUMP coin.
The hype surrounding the new meme coin by Trump played a major role in creating a digital rush for the coin. While most of the crypto community was lining up to buy $TRUMP, its price increased three-fold to over $70 within hours of its launch. The price gains brought the total market capitalization of the meme coin past $14 billion, a remarkable feat for any meme coin. Blockchain analysts also reported that many crypto traders sold their existing assets with $TRUMP coin.
You can also get the Trump meme coins or cards with a simple process, directly from the token website. The website allows you to purchase $TRUMP through Moonshot, a trusted platform for purchasing meme coins. Anyone can sign up for Moonshot with their email address and use different payment methods such as Apple Pay, Venmo, debit card, and credit card to purchase $TRUMP. You can also buy Trump cards with crypto using the Solana/USDC pair.
It is important to remember that Moonshot uses the “MoonPay” service to help customers purchase $TRUMP coin with major payment methods and crypto assets. The service uses anti-fraud checks, sanctions checks, and AML and CFT checks to protect buyers from unintended risks. Once your “purchase order” is placed through authorization, you will receive the meme coin in the selected wallet.
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Credibility of the $TRUMP coin
The most important factor that investors look for in a crypto asset is credibility. You should ask questions about profitability and returns before investing in any cryptocurrency. With a coin like $TRUMP, you may need to think differently because coins don’t have a specific purpose. The meme pieces are inspired by popular Internet memes and trends, such as the attempted assassination of Trump during his election campaign.
Meme coins can be very volatile and are largely speculative in nature, raising concerns of huge losses. The example of the meme coin launched by the “Hawk Tuah girl” shows to what extent meme coins can be risky assets. The price of the “Hawk Tuah” meme coin dropped 95% shortly after its release, creating skepticism about similar meme coins.
You may be wondering about the credibility of Donald Trump’s coin and its ability to remain strong despite volatility. The token’s official website also mentions that buyers should not perceive the meme coin as an investment opportunity. The growth of meme coins in a bull market might be the only hope for meme coin holders.
Crypto enthusiasts have hailed the $TRUMP coin as a symbol of the new president’s support for the crypto industry. It is important to note the impressive trading volume of the meme coin as an indicator of its impact as a crypto asset. The support of a US president and a solid technical infrastructure with the Solana blockchain strengthens the credibility of $TRUMP.
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Conflict of interest concerns
The introduction of the $TRUMP coin created waves in the crypto industry for many reasons. This represents the involvement of a leader of a nation in cryptocurrencies. You should know that the launch of $TRUMP is in line with President Donald Trump’s plans to make the United States a “crypto capital of the world”. The piece also raises concerns about the difference between Trump as president and as a businessman. Trump had promised that he would issue new policy guidelines to reduce the regulatory burden on cryptocurrencies.
The unexpected rise in the price of Trump coins was seen as an attempt to monetize political ties with crypto. Buyers of the meme coin receive a digital card that features a symbol of support for Trump. Critics also pointed out that the new coin could be an indicator of Trump’s conflict of interest.
As the founder of a multibillion-dollar crypto company, Trump finds himself at the intersection of financial opportunity and regulatory obligations. Trump coins indicate that the new president aims to profit from something he is supposed to regulate. Trump’s involvement in the $TRUMP coin will also attract other governments to purchase the meme coin. Such steps could lead to the violation of some important principles of the constitution.
Competition comes from Trump’s own country
The interesting news is that the $TRUMP meme coin also has a serious competitor. The meteoric growth of his competitor led Trump to radically lower the price of the same coin. Do you know who the competitor is? The $MELANIA meme coin launched by the new First Lady, Melania Trump, is $TRUMP’s biggest competitor. This made headlines for causing the price of her husband’s coin to plummet. Melania’s meme coin also had the same effect as $TRUMP on the crypto market. Many traders sold the Trump meme coin to buy $MELANIA coins.
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Final Thoughts
News of US President Donald Trump launching a meme coin brings new hopes for the crypto industry. This is a significant event in crypto as a global leader partners with a multi-billion dollar crypto company. Trump’s decision has faced criticism on ethical grounds. On the other hand, $TRUMP coin has broader implications for crypto growth. Trump had promised a lot of things for the crypto industry during his election campaigns and the meme coin could be the start. At the same time, it is important to exercise caution and monitor market conditions while leveraging research to ensure safety. Meme coins are extremely volatile and speculative assets, creating risks of losses. Learn more about Trump’s plans for the crypto industry now.
*Disclaimer: The article should not be considered and is not intended to provide investment advice. The claims made in this article do not constitute investment advice and should not be relied upon as such. 101 Blockchains will not be liable for any loss suffered by any person who relies on this article. Do your own research!
