Unprecedented Surge in TRUMP Token Value

Since its debut late Friday, the TRUMP token, a meme coin linked to United States President-elect Donald Trump, has seen an astronomical rise of 10,969.87%, reaching $28.60. This surge has sparked widespread interest and speculation within the cryptocurrency community.

Launch and Initial Reactions

The launch was announced through Trump's official Truth Social account, leading to a mix of excitement and confusion. Speculation about a potential hack arose due to the absence of formal statements accompanying the announcement. However, the legitimacy of the token was later confirmed when Trump's official Twitter account shared an image promoting the TRUMP token, following its launch by Moonshot, a notable blockchain project.

Token Supply and Market Cap

The TRUMP token boasts a total supply of one billion, with 200 million tokens made available at launch. The remaining 80% are locked, set to be gradually released over the next three years. Despite only a fraction of the total supply being in circulation, the token has already achieved a market cap of $5.5 billion, highlighting the significant interest and investment in this new cryptocurrency.