The meme coin market was launched with two new meme cash just lately which were always making headlines. A few days earlier than Donald Trump was sworn in because the President, the Trump Group rolled out the TRUMP coin. Whereas a number of early traders snagged main earnings from the asset, the President himself made fairly some cash. Newest reviews reveal that the staff behind the mission has been sitting on vital earnings.
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TRUMP Coin’s Development
It seems to be like TRUMP’s cryptocurrency wasn’t exempted from the most recent crash available in the market. The meme coin began at a low of $6.24 and went on to surge to a excessive of $75.35. This marks a staggering 188% surge. However sadly this uptick was stopped by the current market crash. TRUMP coin witnessed a drop of 15.45% over the previous 24 hours. On the time of writing, the meme coin was priced at $17.87.
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The President’s Income
In response to a current put up on X, the Trump staff could have made round $802 million for the reason that launch of the meme coin. It ought to be famous that this consists of transferring over $482 million price of USDC, SOL, and TRUMP to exchanges. As well as, it excludes the roughly $16 billion in TRUMP and MELANIN tokens that the staff owns.
Trump could have made $802m+ since launching his memecoin
-Group has despatched $482M+ of USDC, SOL, and TRUMP to exchanges
-$240M of USDC is held in out-of-range liquidity + $50M in-range
-They’ve made $29.3M+ in USDC chargesDoesn’t embody $16B of TRUMP the staff nonetheless holds pic.twitter.com/mxujlEmxj0
— Conor (@jconorgrogan) February 3, 2025
It’s price noting that Trump’s coin has come beneath scrutiny by the general public for a lot of causes. Trump Group owns 80% of the meme coin. Traders had been involved in regards to the agency’s majority possession. If the corporate chooses to abruptly promote its coin holdings on the traders’ expense. Talking about the identical, Leonard Kostovetsky, affiliate professor of finance at Baruch Faculty’s Zicklin Faculty of Enterprise acknowledged,
“By way of traders, in fact, there’s an enormous pink flag. All of those meme cash don’t actually have any worth past simply what different persons are keen to pay for them. They’re pure bubbles.”
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