Original | Odaily Planet Daily ( @OdailyChina )
Author: Azuma ( @azuma_eth )
At 22:30 Beijing time on Monday, the second inauguration ceremony of US President-elect Donald Trump will begin on the main event stage on the West Lawn of the Capitol in Washington.
However, this past weekend, Trump has brought a grander and more magical Meme ceremony to the cryptocurrency market.
Thunderbolt
The starting point of the incident can be traced back to the morning of January 18th.
At 10:00, Trump suddenly posted a message on his personal account on the social media platform Truth Social, announcing that he would launch a personal Meme token called TRUMP. Users need to visit the website with the domain name GetTrumpMemes.com to purchase it.
Although the market is still unsure whether this was done by Trump himself or a malicious operation after his social media account was stolen, driven by FOMO sentiment, the token still started to rise at a high speed, and its market value (actually FDV, that is, fully diluted valuation, which will be explained in detail below) was quickly refreshed in units of 100 million in a short period of time, and it exceeded 1 billion US dollars within half an hour of opening.
At 10:44, Trump once again posted the same content on his personal account X. Even though many observers still have some doubts about Trumps motive for issuing currency, the comparison of the content of the two different platforms has basically ruled out the possibility of theft.
Although it is still extremely unbelievable, the reality seems to be this - the President of the United States personally issued the currency!!!
Odaily Note: For details of this section, please refer to Will Trump issue a currency? The strongest meme of the year is released .
Sturm und Drang
Since then, TRUMP has started a rising performance that has stunned countless people - we described TRUMP as the strongest meme of the year in the press release when TRUMP was first launched. Looking back now, we should correct it. It is clearly the strongest meme in history!
From the initial Moonshot sale, to the early Meteora DLMM + Jupiter routing, to the later launch of CEXs such as Coinbase, OKX, and Binance, with the continuous switching of TRUMPs main trading battlefield, more and more users have joined the carnival and helped TRUMP break through new barriers again and again.
PEPE, SHIB, DOGE... one after another, the once legendary Meme tokens have been surpassed by TRUMP... As of 23:00 on January 19, TRUMP was temporarily reported at US$59.3, and its highest once surged to US$82. Calculated based on the full circulation valuation, it is as high as US$80 billion!
Odaily Note: According to the token economic model introduced by the website GetTrumpMemes.com - the total supply of TRUMP is 1 billion, but only 200 million will be circulated at the beginning of creation, and the remaining 800 million belong to Trump Groups subsidiaries CIC Digital LLC and Fight Fight Fight LLC, which will be gradually unlocked in the next 3 years.
Based on this circulation volume and supply, the TRUMP circulation market value corresponding to US$59.3 is US$11.86 billion, and the full circulation valuation is US$59.3 billion - all of this was completed in less than 2 days, which can be called the fastest legend of asset appreciation in human history.
The myth of getting rich quickly
As the price of TRUMP continues to rise, countless new wealth myths are also being written.
Trump himself is naturally the biggest beneficiary, as Trump Group affiliates control 80% of the TRUMP supply (the actual proportion is higher because there is also a 10% market-making share), which means that without considering liquidity conditions, the TRUMP controlled by Trump is worth more than US$47.4 billion at the current price.
Last November, Forbes estimated Trumps net worth at $5.6 billion... So many people would use this to joke that Trumps net worth skyrocketed n times overnight - of course, this data is not rigorous, because considering the lock-up restrictions and liquidity conditions, it is difficult for Trump to actually cash in the $47.4 billion book value.
At the same time, many traders also took this opportunity to make a lot of money. Odaily Planet Daily combined the public market information to sort out the TRUMP single-coin profit records of many KOLs. For details, see the figure below or Who has made a profit of over one million US dollars in TRUMP? - It should be emphasized that when this article was published, the price of TRUMP was only 27 US dollars, so you can imagine how many times these profits will increase.
Some have called TRUMP the biggest trading opportunity in the history of cryptocurrency, and that doesn’t seem to be an exaggeration.
Breaking circle effect
While the industry collectively charged forward, Trumps influence quickly spread outside the industry. In just two days over the weekend, many friends outside the industry who had not been in touch for a long time asked me about how to buy Trump.
At the same time, TRUMP-related terms quickly topped the trending search lists on social media or websites such as Weibo, TikTok, and Baidu.
The breaking circle effect in overseas markets is even more amazing, and these new attentions are turning into real traffic pouring into the market. After Trump announced the launch of TRUMP, as the main channel for non-circle users to buy TRUMP, the Meme token trading application Moonshot has topped the most popular financial application on the US Apple App Store and ranked among the top five free applications.
Moonshot officials said that after being recommended as the preferred purchase method on the TRUMP website, the platforms 12-hour trading volume has reached US$400 million, and more than 400,000 new users have joined the Solana ecosystem through its application.
The struggle for the bottom
Amid the feast surrounding TRUMP, another highly-watched topic is the underlying dispute between Solana and Ethereum.
Since TRUMP chose to issue on the Solana network, which has a stronger meme atmosphere, instead of Ethereum, the market initially interpreted it as the president having appointed Solana and Ethereum a pill.
Driven by this sentiment, SOL has soared since TRUMP went online, reaching a high of over $295, significantly breaking its historical high. In contrast, ETH was sluggish for a time, falling to a low of $3,130, causing major tokens in the ecosystem to fall sharply.
However, at around 22:00 on the evening of January 19, the situation suddenly changed. The Trump family project WORLD LIBERTY FINANCIAL (WLFI) added a total of approximately US$20 million in ETH twice, driving ETH to rebound quickly to break through US$3,400, while SOL fell back to below US$270.
This playing with leeks by setting fire to the war operation really stunned the market.
Plum blossoms for the second time
In the early morning of January 20, the script took another unexpected turn.
At 5:13, Melania Trump, Trumps wife and soon-to-be first lady, posted on her personal Twitter account announcing the launch of her personal Meme token MELANIA. Users need to visit the website with the domain name Melaniameme.com to purchase it.
With TRUMPs plot setting the stage, MELANIA quickly gained popularity once it was launched. As of 7:45, MELANIA was temporarily priced at US$8.4, corresponding to a fully circulated valuation of US$8.4 billion.
Odaily Note: MELANIA’s token economic model is slightly different from TRUMP. The team ownership will be 35%, but the first round of unlocking will come in just 30 days. It seems that the team behind it has learned the lesson of TRUMP’s difficulty in cashing out.
However, perhaps the market had enough of the couples series of outrageous operations. After the issuance of MELANIA, the market began to take a sharp turn for the worse. BTC once fell below the $100,000 mark, ETH once fell below $3,200, SOL also fell sharply below $240, and other altcoins were also in a tragic situation.
By the way, there is also TRUMP. This token plummeted in the short term after the emergence of MELANIA. The on-chain market once fell below $30. As of around 7:45, it recovered slightly and was temporarily reported at $45.
To be continued
This drama that broke out over the weekend seems to be cooling down with TRUMPs short-term pullback.
But in a dozen hours, Trump himself will usher in the second highlight of his life. Whether TRUMP will reach a new climax again, we will witness it together with thousands of viewers.
