TRUMP, the official meme coin of President Donald Trump, was launched on 17th January. The coin is gaining a lot of attention in the crypto community.
According to the official page of TRUMP, it aims to encourage engagement through its unique branding.
The initial launch included 200 million TRUMP Tokens. It was planned to increase the supply by 1 billion tokens over a period of three years. Trading activity increased within days of the launch, bringing attention to central exchanges.
TRUMP Spot Trading Volume
CryptoQuant data shows that TRUMP generated a spot trading volume total of $38 billion since its launch. Binance led the way with a trading volume of $16 billion, followed by OKX, Bybit and Bybit each contributing between 6 billion and 7 billion.
Shortly after its launch, the coin’s price increased. TRUMP’s average price on January 19 was $62, an increase of 82% from the initial close date of January 17. The market was elated by this surge, which coincided with a $17 billion trading volume on the same date. is currently trading for around $37.
Analysts suggest that the success of this coin is due to its strong branding, and its alignment with Trump’s large supporter base. Combining meme culture with political engagement has produced a powerful story that resonates both with crypto enthusiasts and Trump supporters.
The coin’s sustainability on a long-term basis remains a question, despite the initial excitement. Some traders are concerned about the impact of inflation on the coin’s value, given that the supply is set to be increased five-fold in the next three year. Some traders see this as a chance to increase adoption and position TRUMP as something more than a meme coin.
TRUMP’s debut in the crypto market highlights the increasing intersection between politics and digital assets. It remains to be determined whether TRUMP’s crypto-market momentum will continue or fizzle out.
This launch, with its total spot trading volume that rivals established cryptocurrencies has created a precedent on how influential figures can use blockchain technology to mobilize their support and create financial opportunities.
