Trump Meme Coin, Donald Trump’s official cryptocurrency, took the cryptocurrency world by storm when it launched on Friday. Within hours, it became the hottest topic on the market, attracting investors and enthusiasts alike. By Saturday morning, as the United States woke up to the news, Trump Coin had skyrocketed to $30, representing a staggering 12,000% increase from its launch price.
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It now appears that the exponential overnight rally is just the beginning. The meteoric rise of the coin barely makes a difference in its increasing vertical chart. With a staggering $6 billion market capitalization and a fully diluted valuation of $30 billion, Trump Coin is quickly establishing itself as a phenomenon in the meme coin category.
For early investors, the returns were life-changing. A modest investment of $10,000 at launch is now worth $1.2 million, highlighting the huge potential of this ubiquitous asset. As Trump Coin continues to dominate the headlines, speculation is mounting as to whether this is short-lived hype or the start of a new trend in the cryptocurrency space. With this massive growth, all eyes are on the unprecedented next step for this coin.
Trump becomes the biggest meme in history
At 9:44 PM ET on a quiet Friday night, President-elect Donald Trump made history by launching the TRUMP meme coin, which has already become the largest meme coin phenomenon the market has ever seen. according to Al Qubaisi’s messagea trusted voice in global capital markets commentary, saw Trump surge by a staggering 9,500%, with trading volume worth $2.2 billion within just 12 hours of its launch.
Initially, the announcement of the launch of Trump Coin was met with skepticism, but it seemed so implausible that many traders assumed that Trump’s account had been hacked. However, with no official statement refuting the legality of the coin, confidence has increased – and so has the price.
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By 12:45 a.m. EDT, Trump had surpassed the $10 level and accelerated to a parabolic rally. In the early hours, traders witnessed unprecedented returns. One investor reportedly turned $50,000 into nearly $1.1 million in just two hours. Remarkably, Trump outperformed the S&P 500’s 30-year cumulative return over the same short period.
One of the main factors driving the explosive price movement of the coin is the limited circulating supply. Only 20% of the maximum supply – 200 million coins – is currently on the market. Over the next 36 months, the remaining 800 million coins will be issued gradually. Speculation is rife that Trump himself holds this undistributed portion, which could give him significant control over the assets.
With $TRUMP already establishing itself as a phenomenon, the currency’s trajectory remains a captivating sight. This unprecedented rise and the machinations surrounding its supply mechanisms have cemented it as one of the most extraordinary stories in cryptocurrency history.
Price action and market capitalization details
The Trump coin’s explosive rise has raised questions about its market cap and fully diluted valuation (FDV). With a total supply of 1 billion coins, the FDV – if all the tokens were in circulation – would reach around $21 billion based on current prices. However, with only 200 million coins (20% of the total supply) currently in circulation, the market cap is around $4.2 billion. This wide disparity highlights the impact of circulating supply on valuation metrics.
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Price action, at the moment, provides limited insight into the future of the currency. There is little data to perform useful technical analysis. The Trump chart mainly consists of a green parabolic candlestick, which reflects its rapid rise in a noise-dominated environment. This leaves the market with a very important question: Can demand maintain current levels as the remaining 80% of supply gradually enters circulation?
Trump’s emissions schedule shows how to reach maximum supply over the next 36 months. Skeptics argue that this supply influx could lead to oversaturation, eventually driving the coin’s price down to $0. On the other hand, the bulls believe that the gradual nature of the schedule allows demand to keep up. This can mitigate the risks of significant price declines. For now, the debate continues.
Featured image by Dall-E, chart from TradingView