{"id":456351,"date":"2025-01-19T09:29:30","date_gmt":"2025-01-19T04:29:30","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=456351"},"modified":"2025-01-19T09:29:30","modified_gmt":"2025-01-19T04:29:30","slug":"trump-meme-coin-on-solana-surges-to-8-billion-market-cap-within-hours","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/trump-meme-coin-on-solana-surges-to-8-billion-market-cap-within-hours\/","title":{"rendered":"$TRUMP meme coin on Solana surges to $8 billion market cap within hours"},"content":{"rendered":"<p> Washington<br \/>\nA cryptocurrency allegedly linked to President-elect Donald Trump soared to an $8 billion market capitalisation within three hours of its debut on Solana, igniting a mix of enthusiasm and scepticism in the crypto community.<br \/>\nThe token, named Official Trump ($TRUMP), was announced Friday on Trump\u2019s Truth Social account, which directed users to the website GetTrumpMemes to acquire it. A similar announcement later appeared on X (formerly Twitter), claiming the token as the official $TRUMP meme coin.<br \/>\nBlockchain activity showed $TRUMP\u2019s value surging by over 300% in the first three minutes of trading, with volumes approaching $1 billion, according to GeckoTerminal data. By press time, the token was trading at $8.5.<br \/>\nHowever, concerns over the coin\u2019s authenticity arose quickly. Cygaar, a blockchain engineer, pointed out that the token\u2019s infrastructure mirrors that of Trump\u2019s earlier NFT project. \u201cSame Cloudflare setup, same deployment with Heroku, same SSL certificate issuer,\u201d he said, suggesting the same team could be behind both ventures.<br \/>\nAdding to the mystery, Trump\u2019s Truth Social account posted an unrelated announcement shortly after, appointing Peggy Schwinn as the new US Deputy Secretary of Education. Speculation of a potential hack grew, with cybersecurity experts urging caution.<br \/>\nDespite the questions, the token has been verified and listed on Jupiter Exchange, according to Slorg, a member of the platform\u2019s Core Working Group. \u201cWe have approved it to the Jupiter strictlist,\u201d he said, emphasising the need for user awareness.<br \/>\nInspired by Trump\u2019s \u201cFight, Fight, Fight\u201d rallying cry during a 2024 campaign event, the $TRUMP token launched with a supply of 1 billion units, of which 200 million were made available immediately. The remaining supply is locked up, to be released over three years.<br \/>\nThe debate surrounding $TRUMP highlights the volatile intersection of politics and cryptocurrency, with Trump\u2019s name consistently attracting attention in blockchain markets. Neither Trump\u2019s campaign nor his representatives have responded to requests for comment on the token\u2019s legitimacy.<br \/>\nThe project has already drawn comparisons to Trump\u2019s NFT collection, which gained significant traction last year. Analysts caution investors to remain vigilant amid the ongoing uncertainty surrounding the token\u2019s origins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Washington A cryptocurrency allegedly linked to President-elect Donald Trump soared to an $8 billion market capitalisation within three hours of its debut on Solana, igniting a mix of enthusiasm and scepticism in the crypto community. The token, named Official Trump ($TRUMP), was announced Friday on Trump\u2019s Truth Social account, which directed users to the website [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-456351","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>$TRUMP meme coin on Solana surges to $8 billion market cap within hours<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/trump-meme-coin-on-solana-surges-to-8-billion-market-cap-within-hours\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"$TRUMP meme coin on Solana surges to $8 billion market cap within hours\" \/>\n<meta property=\"og:description\" content=\"Washington A cryptocurrency allegedly linked to President-elect Donald Trump soared to an $8 billion market capitalisation within three hours of its debut on Solana, igniting a mix of enthusiasm and scepticism in the crypto community. The token, named Official Trump ($TRUMP), was announced Friday on Trump\u2019s Truth Social account, which directed users to the website [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/trump-meme-coin-on-solana-surges-to-8-billion-market-cap-within-hours\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-01-19T04:29:30+00:00\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta 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