By Gwurld4026 
Explosive Growth: Trump’s Meme Coin Hits $4 Billion in Market Cap Quickly
President-elect Donald Trump has introduced a new cryptocurrency named $TRUMP, which experienced a meteoric rise in market capitalization, reaching $4 billion within nine hours of its launch.
Key Details:
- Launch Timing: The $TRUMP coin was unveiled just days before Trump’s inauguration, marking a significant shift from his earlier skepticism towards cryptocurrencies.
- Blockchain Platform: The cryptocurrency is built on the Solana blockchain, known for its high throughput and low transaction costs.
- Market Performance: Initially priced at $0.18, the $TRUMP coin’s value surged over 300% within hours, peaking at $21.51. This rapid appreciation led to a market capitalization of approximately $8 billion and trading volumes nearing $1 billion.
- Token Distribution: The total supply is capped at 1 billion tokens, with an initial circulation of 200 million. Notably, 80% of the token’s supply is controlled by entities affiliated with the Trump Organization, raising concerns about centralization and potential conflicts of interest.
- Public Reception: The launch has elicited mixed reactions. While some view it as a strategic move to bolster cryptocurrency adoption, others, including ethics lawyers and industry experts, have raised concerns about the timing and ownership concentration. Anthony Scaramucci, former White House Communications Director, described the coin’s launch as “Idi Amin level corruption.”