The post Trump Coin: Growth, Risks, and Investment Insight appeared first on Coinpedia Fintech News
In the potential bull run of cryptocurrency, the newly launched Official Trump (TRUMP) meme coin is gaining wide attention from crypto enthusiasts due to its impressive price increase. Today, January 18, 2024, United States President-elect and pro-crypto Donald Trump posted on X (formerly Twitter) and unveiled his new meme coin called Official Trump (TRUMP).
TRUMP Price Performance
Since the post was published on X, it has received widespread attention worldwide and attracted significant investors and traders, resulting in a TRUMP Award increase from $4 to $35, which represents an increase of almost 790% in less than 24 hours.
However, it seems that this new meme coin is constantly attracting new investors as it is linked to Donald Trump, who officially unveiled the project to the crypto community. On the other hand, Trump is pro-crypto, and US citizens have elected him the new president, with his presidential inauguration scheduled for January 20, 2025.
Looking at these factors, it looks like TRUMP could be the next big thing in cryptocurrency. However, this is the positive side that everyone is currently aware of.
Risk linked to TRUMP
Despite the significant attention from traders, investors and crypto whales, there is one concern that is raising alarms: the distribution of TRUMP’s assets. According to data from Phantom Wallet, the top 10 holders currently own 86.47% of the total supply, meaning there is a possibility of pump-and-dump schemes, price manipulation, and other potential risks.
Currently, there are only 200 million TRUMP coins in circulation, while the maximum supply is 999.99 million. This means there should still be 800 million TRUMP meme coins in circulation, which could create selling pressure and lead to further price drops.
$500 Million TRUMP Sellout?
Additionally, a crypto expert named Conor recently posted on X noting that Trump has sold nearly $500 million worth of meme coins to date. He further added that the Trump team controls 85% of the supply.
These are the pros and cons of the TRUMP meme coin, so make sure you do thorough research before going long or investing for the long term.
Credit : coinpedia.org
