Why TRUMP's Memecoin Could Hurt Solana

Nicholas Thomas
119 Followers

Summary

  • President Trump launched a memecoin called 'Official Trump,' reaching a $4.9 billion market cap within 11 hours, sparking mixed reactions on social media.
  • The tokenomics reveal 200 million tokens in circulation, with 80% held by a single wallet, suspected to belong to CIC Digital LLC.
  • The vesting period is 36 months, allowing gradual selling of the 80% supply starting in 3 months, raising concerns about market impact.
  • Memecoin valuations are driven by compelling narratives rather than traditional financial metrics, emphasizing the importance of the story behind the token.

Crypto currency and digital wallets concept background. CGI 3D render

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President Trump launched a memecoin called 'Official Trump,' with the ticker $TRUMP. At the time of writing, it sat at a market cap of $4.9 billion, just 11 hours after its creation. This token launch came just two days before his inauguration.

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Trader with a keen focus on strategic / situational analysis and trading psychology. Combines hands-on trading experience with thoughtful content creation to share insights about financial markets."The important thing is not to stop questioning. Curiosity has its own reason for existing." - Albert Einstein

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