Donald Trump Launches TRUMP Meme Coin Ahead of Inaugration

President-elect Donald Trump has taken another step into the crypto world with the launch of a Solana-based meme coin called Official Trump (TRUMP).

While the launch has generated significant trading activity, it has also raised questions about legitimacy, allocation, and potential security risks.

Trump’s ‘Official’ Meme Coin

On January 18, Trump announced the launch of a TRUMP meme coin on his official X and Truth Social accounts.

“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community,” the President-elect wrote on X.

The meme coin, as detailed on its website, draws inspiration from his survival of an alleged assassination attempt on July 13, 2024, during his campaign. The token’s meta image depicts Trump with a raised fist and the slogan “Fight, Fight, Fight,” echoing his actions on that day.

“This Trump Meme celebrates a leader who doesn’t back down, no matter the odds,” the website stated.

The project’s website outlines the tokenomics as a total supply of 1 billion tokens that would be unlocked over three years. Currently, 200 million tokens are available for trading, with only 20% allocated for public circulation and liquidity.

The remaining 80% is distributed among six groups, including CIC Digital Groups, a company owned by Trump’s trust that has previously managed his NFT ventures.

Crypto Experts Flag Red Flags in Trump’s Meme Coin

The token launch has sparked a wave of interest and concerns within the crypto community.

Conor Grogan from Coinbase flagged the concentration of token ownership as a significant red flag. He noted that 80% of the token supply — worth $3 billion — is locked in a multi-signature wallet controlled by the creator.

Additionally, the top five wallets hold over 90% of the circulating supply, raising concerns about potential price manipulation.

Blockchain analytics firm SpotOnChain further highlighted unusual patterns. The project received initial funding in SOL from Gate.io and Binance but avoided prominent US exchanges like Coinbase. This discrepancy has fueled skepticism about the token’s authenticity and underlying intentions.

“On-chain data reveals the token owner is 5e2qRc, funded by DKbF4. Interestingly, this address received SOL from Gate.io 2 days ago and Binance 10 days ago,” SpotOnChain reported.

There are also fears of a potential hack as social media security breaches have become more common. However, Polymarket data suggests only a 10% likelihood that Trump’s accounts were compromised.

Adding to the confusion, Trump’s Truth Social account shared unrelated updates, such as the appointment of Peggy Schwinn as Deputy Secretary of Education, shortly after the memecoin announcement.

Moreover, blockchain engineer Cygaar pointed out that the technical infrastructure of the meme coin’s website closely resembles Trump’s earlier NFT projects, suggesting shared development teams.

“The new Trump memecoin website is deployed almost identically to his previous NFT website. Same cloudflare setup, same deployment with Heroku, same SSL certificate issuer. Very similar HTML structure as before,” Cygaar stated.

Despite all of this skepticism, TRUMP has seen massive market activity. According to Dexscreener, the token surged nearly 3,000% since its debut, trading at $13.23 at the time of reporting.

This spike pushed its FDV to $13 billion, with trading volumes crossing hundreds of millions. Major exchanges, including Bybit and Jupiter, have already announced the upcoming TRUMP listings.