Trump MemCoin Buy the Rumor, Sell the News?
Donald Trump's latest move into the crypto industry, Solana-based memecoin “Official Trump” ($TRUMP), has sparked buzz and skepticism among marketers. A 185% price increase and an estimate of $4 billion forced experts to question the long-term prospects of pump-and-dump conditions.
With 80% of tokens locked up and a gradual unlocking schedule, the market is clinging to the $TRUMP token price and fundamentals ahead of Trump's inauguration. While its supporters tout its potential, critics liken it to the changing political landscape of recent times. Is $TRUMP a bold investment or a temporary trend? The story appears in this news.
TRUMP'S STORY WITH CRYPTOCURRENCIES!
Over the past few years, Donald Trump has run on a pro-crime platform. Specifically, it has its own line of NFT collections launched between 2022 and 2024. Trump also endorsed a decentralized finance (DeFi) platform called World Freedom Finance (WLFI).
In the year Following his inauguration on January 20, Trump is expected to issue an executive order regarding crypto, which could be the first of many. With Donald Trump, the US crypto landscape could change, change and change forever.
Is TRUMP Token a pump and dump situation?
The cryptocurrency market experienced a terrible pump and dump on Election Day. As reported, PolitiFi (Political Memecoins) experienced a massive price crash, with top tokens disappearing ~60% within hours.
Just 3 days before President-elect Donald Trump's inauguration for the 2nd term, a similar situation occurred when memecoin was traded on the market. Marketers expect a similar scenario to be witnessed on Election Day.
In particular, 80% of the 1 billion TRUMP coins are locked and gradually unlocked over three years. With this, the distribution supply will be only 200 million tokens, which will bring the market value to 4.05 billion dollars. Moreover, the transaction volume has increased to more than 3 billion dollars and has shown an increase in prices.
An Analyst's Look at the New TRUMP Token Launch!
Saigar is a popular software engineer with over 117,100 followers. The official website of the coin states that it is the same one used for selling and promoting NFTs. Additionally, it is accredited to CIC Digital, which is also the same Donald Trump authorization of the NFTs.
He also believes that the new TRUMP memecoin website is a mirror image of the previous NFTs website following initial doubts. “Either this is the cyber heist of all time, or this is legit,” he concluded.
