US President-elect Donald Trump is returning to the office on January 20. On Friday, he made a big announcement about launching Official Trump ($TRUMP), a Solana-based meme coin. The token reached $8 billion in market cap in less than 3 hours of its debut.
The announcement first appeared on Truth Social, directing users to gettrumpmemes.com/. His official account on X also posted a similar message later on. But there are serious questions about the authenticity of both the announcement and the meme coin.
My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
It is because of the recent series of hacks attacking social media. The Official Trump meme coin is likely created by the team behind Donald Trump’s earlier NFT project since their platforms share technical similarities, according to a blockchain engineer.
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$TRUMP is deeply connected to the “FIGHT, FIGHT, FIGHT” rallying cry that emerged after the politician faced a serious gun attack at a campaign rally in Butler on July 13 last year. The token has a total supply of 1 billion units.
