President Donald Trump has entered the cryptocurrency market with the launch of his official meme coin, TRUMP, on January 17. The coin has quickly gained attention within the crypto community.
According to the project’s official page, the goal of TRUMP is to promote engagement through its unique branding and associated artwork.
During its initial launch, 200 million TRUMP tokens were offered, with a plan to expand the supply to 1 billion over three years. Trading activity exploded shortly after its launch, attracting attention to centralized exchanges.
Data from CryptoQuant shows that since its debut, TRUMP has generated a total spot trading volume of $38 billion. Binance led the way with an impressive $16 billion in trading volume, followed by OKX and Bybit, contributing between $6 billion and $7 billion each.
The price of the coin experienced a surge shortly after launch. On January 19, TRUMP reached an average price of $62, marking an 82% increase from its initial close on January 17. The same day also saw a peak trading volume of $17 billion, indicating immense market enthusiasm. However, the price has since cooled and is currently trading at around $37.
Market analysts believe that the coin’s success can be attributed to its strong branding and its alignment with Trump’s dedicated supporter base. The combination of meme culture and political engagement has created a powerful narrative that resonates with both crypto enthusiasts and Trump’s followers.
Despite the initial excitement, concerns remain about the coin’s long-term sustainability. With plans to increase the supply fivefold over the next three years, some traders worry about inflationary pressure affecting its value. Others see this as an opportunity to drive broader adoption, positioning TRUMP as more than just a meme coin.
TRUMP’s debut highlights the growing intersection of politics and digital assets in the evolving crypto market. Whether it can maintain its momentum or fade away remains to be seen, but for now, TRUMP is undoubtedly making waves in the crypto world.
This launch sets a precedent for how influential figures may engage with blockchain technology to mobilize support and create new financial opportunities, with total spot trading volumes rivaling established cryptocurrencies.