Donald Trump has always been synonymous with spectacles 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 in his campaign. Apparently, no one had the smallest clue about the $TRUMP meme coin and its time of arrival. Trump launched his new meme coin just few days before his inauguration in the White House, making it an event worthy of grabbing headlines worldwide. Within few hours of its launch, the price of $TRUMP increased by over 300% and siphoned liquidity from the market. Let us learn more about the meme coin launched by Trump with insights on its important details and its broader implications.
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Discover the Fundamentals of $TRUMP
By launching the Trump coin, he has proved his commitment to the growth of the crypto space. Trump has already appointed crypto-friendly officials in his administration to reduce the burden of scrutiny and regulations on crypto companies. The new President also aims to create a strategic Bitcoin reserve that will strengthen the association of the US government with cryptocurrencies. With his new meme coin, Trump has shown that he is true to his promises of promoting cryptocurrencies.
The meme coin is an image of Trump with his fist in the air and the words “FIGHT, FIGHT, FIGHT” that celebrates the strength and courage. It commemorates the moment in history when Trump escaped an assassination attempt. The website of the meme coin also states that it celebrates the indomitable spirit of Trump in face of all odds.
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Allocation of the Trump Meme Coin
The allocation of a meme coin 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 has been capped at 1 billion. The project will allocate coins to different groups according to their schedule over a period of 3 years.
It is also important to know that the Trump coin crypto asset creates concerns of uneven allocation. The website of the meme coin states that 80% of the unallocated coins will go to CIC Digital LLC, an affiliate of The Trump Organization and Fight Fight Fight LLC, another company created recently in Delaware.
The uneven allocation also raises concerns as the two companies will not only get 80% of the total Trump meme coins but also revenue from trading activity. Critics have pointed out that the new token represents a profound conflict of interest of Trump as a President and as a businessman.
Getting Your First $TRUMP Coins
The crypto industry has come up with a lot of surprises since cryptocurrencies arrived for the first time. Among the many notable events in crypto history, the $TRUMP coin launch will always be a memorable milestone. It represents the first time when crypto assets crossed over into the political arena. Many people in the crypto industry were surprised when Trump launched a meme coin officially through a Truth Social post. He also urged his followers on X to join the special Trump community and promoted the $TRUMP coin.
The hype for the new meme coin by Trump played a major role in creating a digital stampede for the coin. With most of the crypto community lining up to buy $TRUMP, its price increased by three times to over $70 in few hours after its launch. The price gains boosted the total market cap of the meme coin beyond $14 billion, a remarkable feat for any meme coin. Blockchain analysts also reported that many crypto traders sold their existing assets to by the $TRUMP coin.
You can also get the Trump meme coins or cards with a simple process, directly from the token’s website. The website allows you to buy $TRUMP through Moonshot, a trusted platform to buy 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 buy $TRUMP. You can also purchase the Trump cards with crypto by using Solana/USDC pair.
It is important to remember that Moonshot uses the ‘MoonPay’ service to help customers buy the $TRUMP coin with major payment methods and crypto assets. The service uses anti-fraud controls, sanctions checks and AML and CFT checks to safeguard buyers from unintended risks. Once your ‘Buy Order’ goes through authorization, you will receive the meme coin in 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 meme coin like $TRUMP, you might have to think differently as meme coins don’t have a specific utility. Meme coins draw inspiration from popular internet memes and trends such as the assassination attempt on Trump during his election campaign.
Meme coins can be highly volatile and are largely speculative in nature, which creates concerns for huge losses. The example of the meme coin launched by the “Hawk Tuah girl” shows how meme coins can be risky assets. The price of the “Hawk Tuah” meme coin fell down by 95% shortly after release, creating skepticism about similar meme coins.
You might have some questions about the credibility of the Donald Trump coin and its capability to stay strong amidst volatility. The official website of the token also mentions that buyers should not perceive the meme coin as an investment opportunity. The growth of meme coins in a bullish 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 the impact it has as a crypto asset. The backing by a US President and a strong technical infrastructure with the Solana blockchain boosts the credibility of $TRUMP.
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Concerns about Conflicts of Interest
The introduction of $TRUMP coin has created waves in the crypto industry for many reasons. It represents the involvement of a nation’s leader with cryptocurrencies. You must know that the launch of $TRUMP falls in line with the plans of President Donald Trump to turn the United States into a “crypto capital of the world”. The coin also creates concerns about the line of difference between Trump as a president and as a businessman. Trump had promised that he would issue new policy directives to reduce the regulatory burden on cryptocurrencies.
The unexpected rise in Trump coin price has been perceived as an attempt at monetization of political ties with crypto. Buyers of the meme coin receive a digital card that showcases a symbol of support for Trump. Critics have also pointed that the new meme coin might be an indicator of Trump’s conflict of interests.
As the founder of a multibillion-dollar crypto venture, Trump is at the crossroads of financial opportunity and duties for regulation. Trump meme coins indicate that the new President aims to gain profits from something he is supposed to regulate. The involvement of Trump with the $TRUMP coin will also attract other governments to buy the meme coin. Such moves may lead to violation of some important principles of the constitution.
Competition Comes from Trump’s Own Home
The interesting piece of news is that the $TRUMP meme coin also has a profound competitor. The stupendous growth of its competitor led to a radical drop in the price of the meme coin by Trump. Do you know who the competitor is? The $MELANIA meme coin launched by the incoming First Lady, Melania Trump, is the biggest competitor of $TRUMP. It grabbed headlines for tanking the price of her husband’s meme coin. The meme coin by Melania also had the same effect like $TRUMP in the crypto market. Many traders sold the Trump meme coin to buy $MELANIA coins.
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Final Thoughts
The news of US President Donald Trump launching a meme coin brings new hopes for the crypto industry. It is a significant event in the crypto space as a global leader becomes associated with a multibillion-dollar crypto venture. The move by Trump has been subject to criticism for ethical concerns. On the other hand, the $TRUMP coin has broader implications for the growth of crypto. Trump had promised many things for crypto industry during his election campaigns and the meme coin might be the beginning. At the same time, it is important to practice caution and monitor market conditions alongside leveraging research to ensure safety. Meme coins are extremely volatile assets and speculative, thereby creating risks of losses. Learn more about Trump’s plans for the crypto industry now.
*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!
