Degen merchants offered in straight away, generating many of of millions of bucks’ price of procuring and selling quantity as on-chain sleuths and safety specialists hunted for crimson flags. But with Trump’s X and Truth Social posts mute stay after more than an hour, and some preliminary crimson flags cleared upon closer inspection, it looks that evidently right here’s a official Trump meme coin birth.
“My NEW Official Trump Meme is HERE! It’s time to glean time everything we stand for: WINNING! Join my very particular Trump Community. GET YOUR $TRUMP NOW,” Trump’s official X myth posted.
My NEW Official Trump Meme is HERE! It’s time to glean time everything we stand for: WINNING! Join my very particular Trump Community. GET YOUR $TRUMP NOW. Slip to https://t.co/GX3ZxT5xyq — Earn Stress-free! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
The starting up became straight away met with excitement, confusion, and tons of skepticism. That’s for the reason that mission had the whole familiar hallmarks of many celeb meme coin scams which glean launched over the closing year, with a public figure’s social media myth hijacked to promote a pump-and-dump rip-off.
The Truth Social post went out first, but once the X post adopted on his official myth, concerns began to subside. Moreover, the coin has largely handiest pumped up to now, with no dump as of this writing.
Trump mute could possibly possibly possibly be going by a Third birthday party to earn/dwelling up. If this is the case, he must use US exchanges. We’ve precise coins, the most attention-grabbing coins
— Conor (@jconorgrogan) January 18, 2025
On-chain sleuths pointed to doable crimson flags, including the grisly indisputable truth that the mission became seeded with millions of bucks of funds from Binance and Gate—two exchanges that earn now not reduction U.S. customers. But one more obvious concerns diminished with additional sleuthing, to now not remark with time as Trump’s social posts remained online.
The coin’s official net site looks a equivalent to those previous to sell and promote his previous NFT collections, and is credited to CIC Digital, the same official Trump licensee at the relieve of the NFTs. The meme coin net site became “deployed almost identically to his previous NFT net site,” renowned pseudonymous blockchain engineer cygaar tweeted, following preliminary suspicions.
“Either right here is the most attention-grabbing cyber heist of all time, or right here is official,” he added.
The indisputable truth that both deployments are the usage of Heroku if truth be told leads me to assume that right here is a similar deployer lmao.
Most attention-grabbing ragged heads from a decade ago use Heroku for net site deployments.
Either right here is the most attention-grabbing cyber heist of all time, or right here is official.
— cygaar (@0xCygaar) January 18, 2025
Meme coin merchants are procuring for the coin in droves, pushing it to a mark of $7.31 as of this writing. DexScreener lists a market cap of $7.1 billion, which can possibly possibly possibly make it a high 30 cryptocurrency if factual—though there could be a caveat.
Out of 1 billion coins, the net site notes that 80% are locked and could possibly possibly possibly neutral progressively be unlocked over the course of three years. As such, the circulating provide would handiest be 200 million tokens, striking the market cap closer to $1.5 billion as of this writing. There is been about $680 million price of procuring and selling quantity up to now.
Trump ran on a genuine-crypto platform, and former his previous NFT collections that launched between 2022 and 2024, Trump has also backed a decentralized finance platform known as World Liberty Financial.
He’s anticipated to field a day-one govt report regarding cryptocurrency that can possibly possibly possibly be the first of many, as Decrypt reported this week, with Trump believed to be readying directives that can possibly possibly possibly reshape the American crypto landscape for builders and buyers alike.
