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Information about OFFICIAL TRUMP (TRUMP)
On January 18, 2025, Donald Trump's social media accounts on Truth Social and X simultaneously shared information about TRUMP, a memecoin launched on Solana.
According to the official website, TRUMP is the "official memecoin" of Donald Trump, inspired by the "Fight, Fight, Fight" message he delivered during the "assassination attempt" in July last year, one of the most notable highlights of his journey back to the White House.
Just 15 minutes after its launch, TRUMP's market capitalization reached nearly $400 million. The token's value surged by over 12,000%, peaking at $35.
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The Trump family has intensified their involvement in cryptocurrency by launching multiple projects, such as NFTs and DeFi initiatives, in a bid to increase control over the market. Their investment of nearly $1 billion comes even as the crypto landscape remains unstable.
The ‘TRUMP’ coin trades at 8.55 USD, with a market cap of 1.71 billion USD. Despite a 31.87% rise over 90 days, it has seen volatility, losing 26.57% in 30 days, attracting attention for potential conflicts of interest.
On April 18, 40 million Trump tokens worth 321 million USD are set to be unlocked. This represents 61% of the total 519 million USD in tokens to be released next week.
The rapid rise and decline of the memecoin have led to total losses of approximately 2 billion USD for around 813,000 wallets, with significant price drops expected as new tokens enter the market.
The expected altcoin season in early 2025 failed to materialize as BTC’s dominance rose above 60%. Market participants prefer safer assets, leading to a lack of significant altcoin momentum, with TRUMP, OM, and BERA showing limited gains amid a broader market decline.
The recent volatility has heightened, causing some older altcoins to lose substantial value. The overall sentiment suggests traders are de-risking, with BTC and altcoins experiencing declines. Speculation around a possible altcoin season in 2025 remains, but uncertainty prevails with BTC’s continued strength.
Whales are actively offloading their TRUMP memecoin holdings, intensifying their market activities amidst declining prices. This panic selling has led to a significant drop in the memecoin’s value.
Currently, TRUMP is trading at 7.3 USD, down 19.84% in 24 hours. The ongoing bearish trend indicates a potential for further price reductions, with predictions of possibly hitting 6.5 USD.
Overall market sentiment remains bearish, demonstrated by negative funding rates and a surplus of sell orders, reflecting the lack of confidence among large holders.
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