Trump coin dominates the cryptocurrency scene with an explosive $14.5 billion debut

Explosive growth and early profits

The launch sparked a massive commercial frenzy. Within just one hour, trading volume reached nearly $1 billion, and early investors made huge profits. One trader, who bought nearly $6 million worth of TRUMP coins for roughly $1.1 million using USDC, watched his investment rise to $23 million in just 90 seconds. Despite selling a small portion, the trader had 5.43 million coins left, still showing a profit of more than $20 million, according to reports from Lookonchain.

The coin’s rapid rise was equally impressive in terms of market cap, which reached $7.7 billion within two hours of its launch. The rapid rise has ignited a frenzy on social media platforms, with discussions about its legitimacy, value, and whether it signals a new chapter in Trump’s relationship with cryptocurrencies.

Token structure and ownership

The $TRUMP token has a maximum total supply of 1 billion coins, with an initial issuance of 200 million. The remainder will be distributed over the next three years. Despite the widespread attention this coin has received, ownership of $TRUMP remains highly concentrated. Nearly 80% of the coins are owned by CIC Digital LLC, a subsidiary of the Trump Organization, and Fight Fight LLC, a newly formed company headquartered in Delaware. The value of the token ranged between $17 and $18 during early trading, with these numbers fluctuating as the market stabilizes.

Controversy and doubts about the currency

The launch of $TRUMP was not without controversy. Suspicions remain high due to the currency’s concentrated ownership structure, raising questions about central control and its potential use for political purposes. The official website denies any political affiliations, but the timing of the coin’s release — just days before Trump’s second presidential term — has led some to speculate about underlying political motives. Adding to the doubts are concerns surrounding the security of accounts on X (formerly Twitter) and recent cases of account hacks. Furthermore, Trump’s history of unconventional business ventures, such as $100,000 watches and assassination attempt cologne, has led some critics to question the authenticity of Trump’s coinage.

Trump’s pro-crypto stance and the future of the currency

Trump’s pro-crypto stance during his first term paved the way for Trump’s cryptocurrency. Supporters of the token see it as a continuation of his commitment to the cryptocurrency space, which could signal more support for digital assets during his next term. Despite the controversy and questions about its long-term viability, the rapid rise in trading volume and value indicates that Trump Coin is a force to be reckoned with in the cryptocurrency world.

As the coin continues to gain more attention, its future remains uncertain. While early profits have been eye-catching, the market’s stability and credibility are still up for debate. The $TRUMP meme has certainly disrupted the cryptocurrency market, but it remains to be seen if it will maintain its momentum in the coming months.