Will Trump personally issue coins? TRUMP, the most powerful meme currency, reaches tens of billions of dollars quickly

Author｜Azuma, Odaily Planet Daily

On the morning of January 18, cryptocurrency once again ushered in an event that can be recorded as a milestone - the incoming US President-elect Trump personally issued coins!

At 10:00 sharp, Trump first announced on his social media platform Truth Social that he would launch his personal meme currency TRUMP. Users need to visit the website with the domain name "GetTrumpMemes.com" to purchase the token.

Although the market is still unsure whether this was Trump himself or a malicious operation after his social media account was stolen, under the crazy FOMO emotional trend, the token still started a wild ride, with its market value rapidly rising. The price exceeded US$2 billion.

Then at 10:44, Trump once again announced the same content on his personal I personally issued the coins! ! !

However, given that the matter was so explosive, the investigation within the community did not stop there.

Some on-chain observers found that the funds for the token’s deployment address seemed to come from Binance and Gate, two exchanges that do not support the US market.

However, Abstract contributor cygaar’s investigation found that TRUMP’s issuance website deployment characteristics are almost identical to Trump’s previous NFT website technology. The two websites have the same cloudflare settings, the same Heroku deployment, the same SSL certificate issuer... The HTML structure is very similar to before - cygaar also complained that "only old men still deploy websites like this..."

Token Economic Model

According to the website of "GetTrumpMemes.com", the initial purchase of TRUMP needs to be made through Moonshot, which supports traditional payment methods such as Apple Pay, Visa, Mastercard, and Venmo, as well as cryptocurrency payment methods such as USDC and SOL.

Given that TRUMP has now disclosed its contract address (6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN) and the on-chain pool has accumulated to a size of US$17.7 million, it will be more convenient for users to purchase directly on the chain.

TRUMP is issued on the Solana chain. This token commemorates Trump's heroic appearance after he was assassinated on July 13, 2024, raising his fists and shouting the iconic battle cry "FIGHT FIGHT FIGHT". GetTrumpMemes is intended to express support for and participation in the ideals and beliefs embodied in the "TRUMP" symbol and its associated artwork and is not intended to be the subject of an investment opportunity, investment contract, or security of any kind. GetTrumpMemes is not political and is not affiliated with any political campaign or any political office or government agency.

The total supply of TRUMP is 1 billion, but only 200 million will be in circulation at the beginning of creation, and the remaining 800 million will be gradually unlocked in the next three years.

The "GetTrumpMemes.com" website shows that CIC Digital LLC and Fight Fight Fight LLC, affiliates of the Trump Group, jointly own 80% of Trump Cards (Note: This is the official statement, but the context should refer to TRUMP tokens), but it needs Follow the 3-year unlocking plan. CIC Digital LLC and Celebration Cards LLC, owners of Fight Fight Fight LLC, will receive trading revenue generated from Trump Cards trading activity.

The specific allocation of TRUMP and future unlocking progress are shown in the figure below.

Real-time market conditions

The GMGN market shows that as of 11:40, TRUMP was temporarily quoted at US$4.7, and the corresponding FDV has exceeded US$4.7 billion; calculated based on the circulation of 200 million coins, the corresponding circulating market value has exceeded US$900 million.

(Note: As of 13:18, TRUMP’s market value briefly touched US$10 billion, temporarily reported at US$9.5 billion)

Potential good and bad

Since TRUMP is issued on the Solana chain, SOL will inevitably be directly benefited from the impact of the president's endorsement or the current buying demand.

Judging from the market trend in the last hour, SOL has been significantly stronger in the short term due to this incident. The OKX market shows that SOL is currently trading at 226.4 USDT, a 24-hour increase of 6.73%.

However, at the same time, other conceptual memes on the Solana chain such as WIF, PUNT, ai16z, etc. have generally shown a downward trend in the short term. For the time being, it seems that they have been seriously sucked by TRUMP in the short term.

In addition, other memes that were once regarded as the concept of TRUMP have also fallen significantly. For example, MAGA (TRUMP) on the Ethereum chain has fallen by more than 45% in 24 hours.

After all, the official version is now available, so who is still trying to copy it? Funds will inevitably turn around and chase more “orthodox” options.