Trump’s Memecoin Soars to $71 Billion FDV, Capturing Crypto Market Spotlight

Donald Trump’s official memecoin, TRUMP, has surged to a $71 billion fully diluted valuation (FDV) in less than 48 hours, cementing its position as the 15th-largest cryptocurrency by market cap. This Solana-based token has overtaken prominent memecoins such as Pepe (PEPE), Shiba Inu (SHIB), and Dogecoin (DOGE).

The Memecoin Mania

TRUMP launched on January 17, just days before Trump’s inauguration, and has since captivated the market with a staggering 610% price increase overnight, trading at $68 at the time of writing. The rapid liquidity shift into TRUMP has affected other altcoins. The TRUMP launch siphoned liquidity from other alts into TRUMP and Solana in an incredibly short time span.

Adding to the token’s intrigue, over 80% of TRUMP’s supply is controlled by entities tied to Trump’s business ventures, including CIC Digital and Fight Fight Fight. These holdings are locked under a three-year unlocking schedule, ensuring limited immediate availability for sale.

Market Reactions

The launch of TRUMP has not only captivated the crypto community but has also reshaped the market dynamics within a short period. As liquidity consolidates around TRUMP and related tokens, the broader market continues to adjust to this unexpected surge. Whether this momentum will be sustained remains to be seen, but TRUMP’s rapid rise has undeniably left its mark on the crypto world.