Trump Launches TRUMP Meme Coin; Is it crypto gold or an election campaign gimmick?

The announcement quickly gained momentum, but not without raising some eyebrows. Many users initially wondered whether Trump’s accounts had been hacked, especially since his Truth Social account simultaneously named Peggy Schoen as deputy secretary of education — with her name misspelled. The bizarre nature of the posts led to confusion, but it didn’t stop the meme from making waves.

Trump dollar rises

In less than three hours, Trump’s market value rose to $8 billion. Trading volumes approached $1 billion, and the value of the coin rose more than 300% within minutes. By the time the situation stabilized, Trump’s price had reached $7.1, up from $0.18 initially. Trump’s price surge led to stories of massive gains, with one trader making a $20 million profit in less than an hour. But what exactly is behind this meteoric rise?

The TRUMP meme coin was inspired by Trump’s rallying cry, “Fight, kill, kill,” which he allegedly shouted after surviving an assassination attempt at a Pennsylvania campaign event in July 2024.

The meme’s official website assures users that it is “not political” and has no connection to any political campaign or office. However, this did not allay concerns about potential hacks and the overall credibility of the project, especially given the recent rise in account thefts on X.

Adding to the strangeness is that Trump’s recent endeavors have included everything from $100,000 watches to assassination attempt cologne.

This meme launch comes after a long string of Trump-branded products — each more bizarre than the last — including the “Trump Guitar,” which had to be recalled following a cease-and-desist order from Gibson. With a history like this, it is not surprising that cryptocurrency enthusiasts are both fascinated and wary at the same time.

Ultimately, while the $TRUMP token has become the talk of the town in the cryptocurrency world, its true value and future remain uncertain. Whether it will be remembered as a funny foray into the coin space or the next big thing in digital assets remains to be seen. But what is clear is that the Trump brand continues to keep things interesting, whether it’s in politics, merchandise, or the world of cryptocurrencies.