TRUMP Meme Token Reaches $13 Billion Market Cap, Surpasses Trump Corporation ($DJT)

Former U.S. President Donald Trump announced the launch of his personal meme token, TRUMP, via his Truth Social account. The announcement directed users to the website “gettrumpmemes” to obtain the token. However, concerns about the authenticity of the account and website have led to calls for caution. For reference, the announcement can be viewed on Truth Social.

Explosive Market Debut

According to GMGN data, TRUMP’s market capitalization surged to $1.2 billion within 30 minutes of its launch. Notably, the top holding address owns 80% of the total token supply, while the top five holders collectively control more than 90%. Trump retweeted the launch on 𝕏, further propelling interest and pushing the market cap to $2.9 billion shortly afterward.

Trader Nets Over $20 Million in One Hour

A trader managed to capitalize on TRUMP’s rapid rise, making over $20 million in profit within an hour. Approximately 90 seconds after the Truth Social announcement, the trader spent $1.1 million USDC to purchase 5.97 million TRUMP tokens, which are now valued at $23 million.

Meanwhile, the token’s creator controls 80% of the total supply via a multi-signature wallet, valued at $3 billion, raising concerns about the centralization of ownership and potential risks.

Record-Breaking Liquidity Revenue

TRUMP’s liquidity pool on the Meteora platform has generated significant protocol revenue. Over the past 24 hours, it ranked second only to Tether, with $12.2 million in liquidity pool (LP) revenue. If current trends persist, estimated daily LP revenue could reach $58.08 million, further underscoring the token’s dominance in the decentralized finance sector.

Surpassing Trump Corporation ($DJT)

TRUMP’s market capitalization has now reached an impressive $13 billion, officially surpassing the valuation of Trump Corporation ($DJT). This milestone demonstrates the immense speculative interest and liquidity within the cryptocurrency space.

Public Reaction

The launch has sparked a mix of excitement and concern. Critics worry about the implications for Trump’s political aspirations, with one person noting:

“Trump dropping his own memecoin means he has the wrong people in his ear re crypto policy. I’m now getting very concerned about the Trump presidency.”

The Future of TRUMP Token

While the token’s growth has been extraordinary, risks remain. The centralized ownership structure and concerns about market manipulation are key points of caution for traders. Whether TRUMP will sustain its momentum or fade as a speculative bubble remains to be seen.

Jupiter Collaborates with Meteora for Smooth TRUMP Token Launch, Utilizes Advanced LFG Stack

Solana’s DEX aggregator Jupiter announced that they worked closely with the Meteora team to ensure a smooth launch for the TRUMP token. Trading and verification went as smoothly as possible, not just on Jupiter, but across the entire ecosystem utilizing Jupiter APIs, including key apps like Moonshot that were crucial to the launch. The TRUMP token launch utilized the same LFG stack that powered the launch of JUP, incorporating the DLMM pool, ILM design, and tight Jupiter integration for optimal performance.