Trump Meme Coin Sparks Buzz in Crypto Community: Who’s Behind It?
Market Reaction & Impact of Trump Meme Coin on Cryptocurrency: Details The cryptocurrency community is abuzz after posts from Donald Trump’s official social media accounts appeared to promote a Solana-based memecoin. The posts, which surfaced on January 18, have sparked questions about their authenticity and whether Trump’s accounts might have been compromised just days ahead of his presidential inauguration on January 20.Who’s Behind the Trump Meme Coin? In a tweet from his official X account, Trump announced, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR TRUMP NOW.” Similar posts appeared on his Truth Social account, referring to the token as the Official Trump Coin or Trump Meme Coin Name.Source: XMarket Reaction and Impact on Related TokensDespite skepticism about the posts’ legitimacy, the Donald Trump Meme Coin surged to prominence within hours. Trading data from the memecoin platform Moonshot reported that the token, dubbed Trump Crypto Coin, launched at $8.41 and achieved a staggering market cap of $8.3 billion within three hours. By press time, the coin’s price had spiked to $14.88, representing an intraday increase of 8000%, with a trading volume of $1.58 billion and a market cap of $3.03 billion.Source: GeckoTerminalThe news also impacted the broader crypto market. Solana (SOL), the blockchain hosting the Official Trump Coin Crypto, saw its price rise by 9.55% to $234.73. The surge boosted its market cap to $114.2 billion, with $10.69 billion in 24-hour trading volume.Other Trump-related tokens benefited as well. First Crypto President ($TRUMP) recorded a 95% increase, trading at $2.54, while Donald Trump ($DONALD) rose by 9.85% to $0.01686.What’s Next for Trump and Crypto?As speculation grows, industry insiders question whether Trump’s account was hacked or if the posts signal a genuine pivot toward blockchain ventures. Trump is reportedly preparing an executive order to prioritize cryptocurrency as a national agenda, a move anticipated to follow his inauguration.For now, the crypto community remains divided, awaiting clarity on whether the Trump Crypto promotion reflects a calculated strategy or digital sabotage. The incident underscores the influence prominent figures wield in shaping crypto markets, even amid controversy. Also read: PinEye Bot Secret Code 19 January 2025: Boost Your Earning