The cryptocurrency market is buzzing with activity as Trump-branded meme coins flood exchanges following the launch of the official TRUMP and MELANIA tokens. These tokens, endorsed by the Trump family and deployed on the Solana network, have sparked intense trading interest, but the market is now saturated with unofficial imitations.
The wallet that is holding 80% of the $TRUMP tokens is now holding $197,000,000 in IVANKA token
Another release coming in the middle of the night? pic.twitter.com/SMdr8mUiyO
— John Trades MBA (@JPATrades) January 20, 2025
Official Tokens Dominate the Market
The official TRUMP token debuted on January 18, followed by the MELANIA token on January 19. TRUMP briefly achieved a fully diluted valuation (FDV) of $80 billion, while MELANIA peaked at $14 billion before stabilizing. Both tokens gained momentum after confirmation of their authenticity by Trump’s team.
Inundation of Fakes
Despite the success of the official tokens, unofficial Trump-themed coins have proliferated. Tokens like BARRON and IVANKA have drawn attention but exhibit extreme volatility, with some losing over 90% of their value. Many fake tokens attempt to mimic Trump-related branding but lack any official endorsement.
While traders hunt for the next Trump-linked opportunity, concerns about transparency and potential fraud have surfaced. Representative Maxine Waters criticized the TRUMP token, labeling it a risk to investor trust in the crypto space.
The market’s obsession with Trump-themed tokens highlights both the speculative frenzy in the cryptocurrency world and the need for cautious investment. Investors are urged to verify token authenticity before participating.
Also read: Trump’s World Liberty Diversifies Treasury with $25M Crypto Purchase