Original | Odaily Planet Daily ( @OdailyChina )
Author: Azuma ( @azuma_eth )
On the morning of January 18, cryptocurrency once again welcomed an event that can be recorded as a milestone - the incoming US President-elect Trump personally issued the currency!
At 10:00 sharp, Trump first announced on his social media platform Truth Social that he would launch his personal meme coin TRUMP. Users need to visit the website with the domain name gettrumpmemes to obtain the meme.
Although the market is still unsure whether this was done by Trump himself or a malicious operation after his social media account was stolen, under the extreme FOMO sentiment, the token began to soar, and its market value quickly exceeded US$2 billion.
Then at 10:44, Trump once again announced the same content on his personal account X. This time the market has basically ruled out the possibility of theft. Although it is extremely unbelievable, this is the reality - the President of the United States personally issued the currency!!!
Token Economic Model
According to the introduction on the “gettrumpmemes” website, the initial purchase of TRUMP needs to be made through Moonshot, which supports traditional payment methods such as Apple Pay, Visa, Mastercard, Venmo, as well as cryptocurrency payment methods such as USDC and SOL.
Given that TRUMP has now made its contract address public (6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN) and the on-chain pool has accumulated to $17.7 million, it will be more convenient for users to purchase directly on the chain.
TRUMP is issued on the Solana chain. The token is designed to commemorate Trumps heroic appearance of raising his fist and shouting the iconic battle slogan FIGHT FIGHT FIGHT after the assassination on July 13, 2024.
The total supply of TRUMP is 1 billion, but only 200 million will be circulated at the beginning, and the remaining 800 million will be gradually unlocked in the next three years. The specific token distribution and unlocking progress are shown in the figure below.
Real-time market conditions
GMGN quotes show that as of 11:21, TRUMP was temporarily reported at $4.1181, and the corresponding FDV has exceeded $4.1 billion; based on a circulation volume of 200 million pieces, the corresponding circulating market value has exceeded $800 million.
Potential positive and negative
Since TRUMP is issued on the Solana chain, SOL will inevitably benefit directly from both the influence of the president’s endorsement and the current buying demand.
Judging from the market trend in the last hour, SOL has clearly strengthened in the short term due to this incident. OKX market shows that SOL is currently trading at 226.4 USDT, with a 24-hour increase of 6.73%.
However, at the same time, other concept memes on the Solana chain, such as WIF, PUNT, and ai16z, are generally on a downward trend in the short term. For the time being, it seems that they have been severely drained by TRUMP in the short term.
In addition, some other memes that were once regarded as TRUMP concepts have also fallen significantly. For example, MAGA on the Ethereum chain has fallen by more than 38% in 24 hours. After all, the official version has been released, and funds will inevitably turn to pursue more orthodox options.
