President-elect Donald Trump made waves with the sudden launch of Official Trump ($TRUMP), a meme coin built on the Solana blockchain.
Within a few hours of its debut, the token’s market cap skyrocketed to $2.7 billion, sparking both excitement and skepticism about the project’s legitimacy.
Trading activity surged immediately after the announcement, with $TRUMP’s value climbing hunders of percent in the first couple of minutes and daily volumes nearing $2.6 billion, as per CoinGecko data. At the time of reporting, the token was valued at around $13.11.
The initial announcement appeared on Trump’s Truth Social account, directing users to a website called GetTrumpMemes for acquiring the tokens. A similar post was later shared on X (formerly Twitter), promoting the coin as the official $TRUMP token.
However, questions about the authenticity of the project quickly arose, fueled by recent hacks targeting prominent social media accounts.
Ran Neuner, renowned crypto expert, stated that t his memecoin is legit and that it is a really bullish announcement
Adding to the confusion, Trump’s Truth Social account later posted an unrelated update announcing Peggy Schwinn as the new U.S. Deputy Secretary of Education, leaving users speculating about the account’s security and the coin’s legitimacy.
Wallets linked to the development team behind the TRUMP memecoin — associated with U.S. President Donald Trump — transferred 3.5 million tokens (worth $32.8 million) to Binance earlier today, raising questions about future sell pressure.
Binance will give traders first access to Humanity Protocol’s native token next week, rolling it out on two of its experimental venues before any spot listing is considered.
Crypto markets were the first to absorb the shock of escalating tensions between the U.S. and Iran, as news of targeted airstrikes on nuclear facilities sent ripples across the digital asset landscape.
Crypto markets saw a sharp decline over the weekend after the US launched its first military intervention in the conflict between Iran and Israel late on Saturday night.