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.
TRUMP’s official website states that the project intends to encourage engagement by using its unique branding.
The initial launch included 200 million TRUMP tokens. It was planned to increase the supply by 1 billion TRUMP tokens over a period of three years.
Trading activity increased dramatically within days of the launch. This brought attention to centralized exchanges.
TRUMP Spot Trading Volume
CryptoQuant data shows that TRUMP’s debut has resulted in a spot trading volume totaling $38 billion.
Binance led the way with a trading volume of $16 billion, followed by OKX, Bybit and each of them contributing between $6 and $7 billion.
Shortly after its launch, the coin’s price increased. TRUMP’s average price was $62 on January 19. This represents an 82% rise from the initial close of January 17.
The market was ecstatic about this surge, as evidenced by the $17 billion trading volume that peaked on the same date. is currently trading for around $37.
Analysts suggest that the coin’s success is due to its strong branding, and its alignment with Trump’s large support base.
Combining meme culture with political engagement has produced a powerful story that resonates both with crypto enthusiasts and Trump supporters.
Even though the initial excitement was high, there are still questions about the long-term viability of the coin.
Some traders are concerned about the impact of inflation on the value.
Some see this as a chance to increase adoption and position TRUMP as something more than a meme coin.
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.
