The incoming US President Trump launched his official meme coin $TRUMP last Saturday morning, quickly attracting high market attention and reaching a fully diluted market cap (FDV) that once exceeded Doge, becoming the largest meme coin in the entire market. Achieving such results in just three days, it can be said to be the fastest growing project in the history of the crypto market, also indirectly proving how influential Trump is.
Below, BlockTempo has compiled various information about $TRUMP to help you understand it faster:
Token Economics: Design and Distribution of TRUMP
TRUMP is a meme token issued on the Solana blockchain, with a total supply of 1 billion tokens, of which 200 million were in circulation at genesis, and the remaining 800 million will be gradually unlocked over the next three years. According to the official website "GetTrumpMemes.com", TRUMP supports multiple payment methods including Apple Pay, Visa, Mastercard, and USDC, and the contract address has been publicly disclosed on-chain (6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN).
Token Image
The design of the TRUMP coin is centered on Trump's personal image, inspired by the classic scene in July 2024 when Trump was assassinated and raised his fist shouting "FIGHT FIGHT FIGHT". However, 80% of the tokens are held by two companies related to Trump, CIC Digital LLC and Fight Fight Fight LLC, and are subject to a three-year unlocking plan, which has raised external concerns about its transparency and fairness.
$TRUMP Transaction Terms Include Class Action Waiver Clause
Furthermore, the transaction terms of the TRUMP token include a "class action waiver clause", stipulating that purchasers cannot initiate or participate in class action lawsuits against TRUMP, further deepening market concerns about its potential risks.
Moonshot Daily Active Users Exceed 1 Million
The crypto trading platform Moonshot, with its convenient fiat deposit options including Apple Pay, credit cards, and PayPal, has become a popular platform for new crypto users to quickly engage in crypto trading.
As one of the first platforms to list $TRUMP, Moonshot has also seen a surge in user growth during this wave of hype. Yesterday (19th), the official tweet announced that the daily new user count reached 400,000, and further stated today that the daily active user count has exceeded 1 million.
Market Criticism Voices
However, the fact that the newly elected US President is issuing a meme coin, leveraging his fame and influence to monetize, has also drawn a lot of criticism:
- Legalized Crime?
Renowned crypto journalist Coffeezilla criticized Trump's move to launch a personal meme coin just before taking office, describing it as "legalized crime" and directly accusing it of being a means of plundering the wealth of his supporters. - Textbook Fraud
Qiao WANG, an early investor in Pump.Fun, directly stated that while it's cool for the president to fairly launch a meme coin, reserving 80% of the tokens for the internal team completely changes the nature of the project. He believes this is the textbook definition of fraud. - TRUMP is a Shitcoin
Crypto media Bitcoin Magazine directly stated that the TRUMP coin is a shitcoin. The media had previously invited Trump to speak at the 2024 Bitcoin Conference and reported on his Bitcoin strategic reserve plan. However, they expressed strong opposition to the emergence of the TRUMP coin, believing it to be inconsistent with Trump's original crypto policy.
Will there be an airdrop to TRUMP NFT holders?
Additionally, we know that Trump has previously issued official NFTs on multiple occasions. 1confirmation founder Nick Tomaino criticized the TRUMP coin's 80% token supply being controlled by the internal team, which he believes is extremely unfair to supporters.
He suggested that Trump should adopt an airdrop approach to distribute the tokens to supporters, rather than using the tokens to profit himself and his team.
Eric Trump, Executive Vice President of the Trump Organization, stated on the X platform: "I am very proud of our achievements in the cryptocurrency field. TRUMP is currently the hottest digital Meme on Earth, and I firmly believe that WLFI will fundamentally change DeFi and CeFi, and become the future of finance."
Future Potential and Challenges of the Market
- Market Cap Potential of $100 Billion
Andrew Kang, co-founder of crypto venture capital firm Mechanism Capital, wrote that the market cap of the TRUMP coin could potentially surpass $100 billion, even reaching a fully diluted valuation (FDV) of $500 billion. He believes that compared to Dogecoin, the TRUMP coin is more likely to be accepted by the market. Although the token itself has no intrinsic value, the precedents of Dogecoin (DOGE) and Shiba Inu (SHIB) creating massive wealth in the meme coin market, combined with Trump's global influence and large supporter base, provide favorable conditions for the development of the TRUMP coin. - Bullish in the Short-term, Pessimistic in the Long-term
Zhu Su, co-founder of Three Arrows Capital, posted on X that he is bullish on the TRUMP coin in the short and medium term, but in the long run, he believes "we are all doomed." - Token Price Targets and Wealth Imagination
Crypto KOL Conor compiled the potential impact of the TRUMP coin price on Trump's wealth, and calculated that if the token price reaches the following targets, Trump will surpass the following well-known billionaires:
- $118: Surpass Michael Bloomberg, founder of Bloomberg News
- $145: Surpass Bill Gates, former Microsoft CEO
- $203: Surpass Mark Zuckerberg, Chairman of Meta
- $225: Surpass Elon Musk, CEO of Tesla
- $270: Become the world's richest person
Regarding this Trump phenomenon, a social media user commented: "When the Chinese get hot, they bring goods through Douyin, and when the Americans get hot, they issue coins. One fits the characteristics of industrial overproduction in developed countries, and the other fits the characteristics of capital surplus in financial countries. Everyone has their own formula for monetizing traffic."
