Set as Homepage - Add to Favorites

【X-Deal (2011)】

Source：Information Information Network Editor：Shopping Time：2025-06-26 18:21:51

Cryptocurrency markets can X-Deal (2011)be chaotic, but Trump (or teams connected to him) just took it to the next level.

Days ahead of Trump's inauguration as President of the United States, scheduled for Monday, Jan. 20, Trump launched the $TRUMP memecoin on crypto platform Solana. The President-elect posted the news from his official X account, making it as official as can be.

This is not exactly news. Trump has endorsed cryptocoins and crypto projects before, though this one is now billed as the "only Official Trump Meme." The difference, however, is that this new memecoin – which, by the way, doesn't do anything, it's just a coin named TRUMP – was launched just ahead Trump's inauguration, making it easy to interpret it as a sort of an endorsement of the Solana platform, memecoins in general, and the practice of unscrupulously capitalizing on attention by launching a quick pump-and-dump scheme.

You May Also Like

For an idea of how these things typically go, check the recent HAWK coin fiasco. As for the TRUMP coin, it quickly rose from basically zero to an astonishing $83, which multiplied by the number of coins (one billion) meant $TRUMP at one point had a fully diluted valuation (FDV) of $83 billion.

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

The enormous race to get into the $TRUMP coin caused an unprecedented liquidity drain on the rest of the market, with nearly all other cryptocurrency coins being sold off and losing value. As of this writing, $TRUMP sits at roughly $58, giving it a FDV of $58 billion. Some of the other crypto coins recovered in the meantime, with Bitcoin actually reaching an all-time-high price of $109,000 early on Monday, though numerous altcoins are still deeply in the red.

This, however, apparently wasn't chaotic enough for Trump and his crypto army, who followed up by launching an official $MELANIA memecoin during Trump's victory rally on Sunday.

Related Stories
  • 'Hawk Tuah' girl Haliey Welch has disappeared from public view after crypto rug pull
  • Hawk Tuah Coin: Why celebrity-backed crypto is a dangerous investment
  • An AI is getting very rich off crypto. It gets weirder.
  • Bitcoin finally hits a massive price milestone
  • Did Craig Wright invent Bitcoin? This court is deciding.

The launch resulted in yet another race to buy the coin, draining the liquidity from nearly everything on the market, including $TRUMP. So far, though, $MELANIA is doing well, with a price of $11.26, and a fully diluted valuation of $11.5 billion.

SEE ALSO: Bitcoin finally hits a massive price milestone

Cryptocurrencies are known to be volatile, and coins often rise from basically nothing to millions or even hundreds of millions of dollars in valuation within days, but the meteoric rise of $TRUMP was nuts even by those standards. With inauguration ahead of us, things are probably about to get even crazier.

Topics Cryptocurrency Donald Trump

Previous：Amazon Spring Sale 2025: Best Apple AirPods 4 with ANC deal

Next：#rateaspecies is basically Yelp reviews for zoo animals

Related Articles
Related Recommendations
Categories
Latest Articles
Popular Articles
Hot Recommendations
Featured Column

Quick Links

Poetry Rx: Remember the Sky That You Were Born Under by Kaveh AkbarAfter Stonewall by The Paris ReviewOn Seeing, Waking, and Being Woke by Jess RowHow Stanley Kubrick Staged the Moon Landing by Rich CohenRedux: In Memoriam, Susannah Hunnewell by The Paris ReviewSusannah Hunnewell, 1966–2019 by The Paris ReviewLucky by Shannon PufahlSorry, Peter Pan, We’re Over You by Sabrina Orah MarkI Am the Mother of This Eggshell by Sabrina Orah MarkOn the Eve of My Eternal Marking by Jenny BoullyGeorge Plimpton’s Illegal Fireworks Display by The Paris ReviewPoetry Rx: Remember the Sky That You Were Born Under by Kaveh AkbarSummer is Made of the Memory of Summer by Nina MacLaughlinMy Lil Sister Lena by Ebony FlowersParticipating in the American Theater of Trauma by Patrick NathanRedux: A Heat That Hung Like Rain by The Paris ReviewAuden’s Grumpy Moon Landing Poem by Nina MartyrisEat This Book: A FoodThe Woman of a Thousand Faces by Zachary FineThe Hemingway Marlin Fish Tournament by Andrew Feldman The 10 best Disney+ dramas to stir your emotions Robert Mueller breaks his silence and sends Twitter scurrying back to school Facebook owner Meta to lay off 11,000 people Elon Musk's $8 Twitter Blue subscription goes live, will tell you who paid for verification Twitter brings back gray checkmark for 'Official' accounts 12 interesting gadgets to spice up your self Race horse loses rider but wins our hearts by racing without him How MSNBC used tech from ‘The Mandalorian’ to bring election night to life How to use Twitter without giving Elon Musk your user data by browsing without a login Hurricane Nicole: See Florida webcams in Stuart, Flagler Beach, Satellite Beach, and more Nostalgic meme remembers the absurd bowling alley animations we all love 'Black Panther: Wakanda Forever' mid ‘Batman: The Animated Series’: Where to stream Kevin Conroy’s iconic take Gillette's new ad of a trans man's first shave is honestly pretty good How Roe v. Wade reversal is impacting dating and sex lives 'Quordle' today: See each 'Quordle' answer and hints for November 13 Wordle today: Here's the answer, hints for November 13 Watch these brave humans risk everything to chase cheese down a hill Wordle today: Here's the answer, hints for November 15 Comcast, a trusted company, wants to monitor you with a smart device

2.5707s , 8225.75 kb

Copyright © 2025 Powered by 【X-Deal (2011)】,Information Information Network  

Sitemap

Top

Quick Links