Traders are looking for more Trump-branded memecoins after President Donald Trump’s eponymous token briefly surpassed $80 billion in fully diluted value (FDV) just one day after its launch on January 18.
Discovering the next official Trump coin means sifting through dozens of fake coins.
So far, only the official MELANIA token referencing First Lady Melania Trump has been approved by the Trump family. As of January 20, it had fallen back below $6 billion before hitting an FDV of around $14 billion, according to CoinMarketCap.
Meanwhile, numerous unofficial clones bootstrapped hundreds of millions of dollars in market capitalization before collapsing. One of these tokens, deceptively called the Official Barron Meme (BARRON), hit a high of around $400 million before retracing more than 90%, according to DEX Screener.
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Speculation is rampant about the launch of a new Trump Coin. source: John Trade MBA
Imitators transferred dozens of Trump-themed memecoins to cryptocurrency wallets associated with CIC Digital LLC, a Trump company that holds 80% of the total supply of official Trump (TRUMP). Some of the allocations, including the Ivanka Trump formula, are claimed to be worth hundreds of millions of dollars.
On January 19, the president’s son, Eric Trump, dismissed rumors that a potential “USA Coin” was the Trump family’s next memecoin project. On January 20th, cryptocurrency influencer Kook broke the rumor of an official launch for a memecoin associated with Barron and Eric Trump.
Barron Trump has sparked particular interest among memecoin traders. source: soup
Surprise memecoin launch
Trump’s advisory team launched the TRUMP memecoin on the Solana network on January 18th and the MELANIA token on January 19th ahead of the presidential inauguration on January 20th.
Traders initially questioned whether the launch was the result of a social media hack. However, members of Trump’s team later confirmed the authenticity of the memecoin, which caused the price of the token to skyrocket.
The launch of TRUMP had a significant impact on the Solana ecosystem. Tokens built on Solana have attracted traders’ interest in memecoin creation and significantly increased trading volume.
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