Just days before his second inauguration, President-elect Donald Trump and his social media team announced the launch of a Solana-based meme coin called TRUMP. Seems Legit The announcement generated hundreds of millions in trading volume, with on-chain analysts and security experts initially raising concerns over potential scams. However, with many of these concerns eventually clearing up, the launch appears legitimate. While the launch initially triggered skepticism due to the resemblance to past celebrity meme coin scams, the follow-up post on X alleviated many concerns. At present, the meme coin has only seen upward movement, with no signs of a dump. A Massive Surge On-chain analysts noted that the project had been seeded with funds by Binance and Gate.io, two exchanges that do not serve U.S. customers. However, further investigation diminished these concerns, especially as the official website of the meme coin mirrored previous Trump NFT launches, which are managed by CIC Digital, his official NFT partner. The meme coin surged to $7.31, with a market cap of around $7.1 billion, although 80% of the 1 billion coins are locked for the next three years. This means the circulating supply is closer to 200 million tokens, bringing the market cap to around $1.5 billion. So far, the coin has seen $680 million in trading volume.
