When the Trump team confirmed the launch of the Solana memecoin, traders pocketed millions

Crypto traders are in the millions following the launch of Solana-based memecoin, the official TRUMP proposed by US President Donald Trump.

Announced on January 17, just days before his inauguration as the 47th President of the United States, TRUMP reached a market cap of nearly $9 billion within hours, surpassing memecoins such as Pepe (PEPE) and Bonk (BONK).

“My new official Trump meme is here! It's time to celebrate everything we stand for: Winner! Join my exclusive Trump community. Get Trump Now ,” Trump posted on Truth Social and X.

While parts of the crypto community speculated that the announcement might come from a hack, a source close to the Trump family — speaking on condition of anonymity — confirmed to Cointelegraph that the project is legitimate and related to a non-reversible token (NFT).

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Traders reap profits within hours

A wave of high-profile trading activities highlighted the token's meteoric rise.

Blockchain analytics firm Lookonchain reports that a wallet named “LeBron” turned a $1 million US dollar coin (USDC) investment into $2 million by acquiring 4.52 million TRUMP tokens minutes after its launch.

Another trader turned a $1.1 million investment into $70 million in less than four hours. The individual sold 1.35 million TRUMP for $3.65 million and held 4.62 million tokens for $67.5 million.

Meanwhile, anonymous crypto trader 0xsun bought nearly 1 million TRUMP tokens along with 3,000 Solana (SOL) worth $653,000. They sold some of their holdings for $812,000, making a profit of over $3.7 million.

Whales join the action

Big investors or “whales” also jumped in. One whale bought 61,205 SOL – worth more than $14.3 million – from crypto exchange OKX and spent 1.27 million TRUMP tokens. Another spent $8.5 million to buy 1.03 million tokens at an average price of $8.28.

At the time of writing, TRUMP was trading at $18.82, with a market value of $4.28 billion, up 10,222% since its inception and generating a turnover of $1.71 billion in 227,625 transactions, according to Dexscreener.

The project's website lists a total supply of 1 billion tokens to be released over three years. At launch, 200 million tokens, 20% of which were unlocked, the remaining 800 million were gradually distributed over 36 months.

Tied to Trump's NFT venture, CIC Digital will receive 80% of the total offering in six placements. These are opened online within 24 months after the initial lock-in period of three to 12 months. The remaining tokens include 10% reserved for liquidity and 10% for public distribution, fully unlocked at launch.

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Solana's DEX volumes have reached an all-time high

TRUMP's launch boosted Solana's decentralized exchange (DEX) volume to a record $12.9 billion in 24 hours, Koingeco said.

Among DEXs trading TRUMP, Meteora led with over $4 billion in 24-hour volume, followed by Orca and Radium.

Centralized exchanges including Bybit, HTX, Gate and Bitget have listed the token.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.

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