TRUMP memecoin makes record price run, possibly multiplying Donald Trump’s net worth by 5x
On January 18, 2025, the "OFFICIAL TRUMP" ($TRUMP) memecoin launched on the Solana (SOL) blockchain, experiencing a price surge of over 300% within 24 hours. The token's market capitalization reached $8 billion shortly after launch, placing it among the top 30 cryptocurrencies. Currently, its market cap stands at $5.7 billion, with a fully diluted market value of $28.5 billion. Trading volumes approached $1 billion, significantly impacting the Solana ecosystem and boosting SOL's price to a new all-time high above $270. The launch has shifted liquidity from Ethereum to Solana, with SOL rising against Ether (ETH) to a new high of 0.081. Controversy surrounds the project, particularly regarding the concentration of 80% of tokens in one wallet and concerns about legitimacy. Donald Trump's net worth reportedly increased by $22 billion due to this stake. The event highlights Solana's trading capacity and raises discussions on the volatility introduced by high-profile memecoins in the crypto market.
