A memecoin linked to Donald Trump, issued from his verified social media accounts, saw its price skyrocket from a few cents to $14 in less than six hours. The token, $TRUMP, attracted $3 billion in trading volumes shortly after its launch, with a market capitalization reaching $2 billion. One trader invested $1.09 million in 5,971,750 TRUMP coins, which surged to a value of $30.8 million in under two hours, marking a 2,634% gain. Despite the frenzy, skepticism abounds regarding the token’s legitimacy. Early buyers have seen paper gains exceeding $70 million, with some smaller traders gaining up to $1 million. The token’s website clarifies it’s not an investment opportunity but an expression of support for Trump’s ideals. Meanwhile, other Trump-themed memecoins experienced a 50% drop in value.
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