In the lead-up to Donald Trump’s inauguration, the crypto world has been hit with news of a new meme coin linked to the president-elect. The cryptocurrency, launched on the Solana blockchain, has seen a dramatic rise in its market capitalization, reaching $10 billion in just a few hours. However, skepticism surrounds the legitimacy of the coin, with many questioning whether Trump’s official social media accounts have been compromised.
As of now, there has been no official confirmation on whether the coin is legitimate. While major accounts and news sources have indicated the possibility of it being real, it has not been verified through official channels. Trump’s own social media posts have created doubts, with some suggesting that these posts could be the result of hacking.
Anthony Pompliano wrote on X, “The incoming President of the United States just launched a meme coin days before his inauguration. The market cap is almost $8 billion in less than 3 hours, which nearly doubles Trump’s net worth. Financial markets are not ready for what is ahead — buckle up.” However, Crypto commentator JRNY Crypto expressed doubt.
He wrote, “Bro if this $TRUMP coin is real, wtf are his advisors doing. No video, no confirmation or proof it’s real, just a social media post.”
The excitement surrounding this development has created a stir in the market, especially as the inauguration day draws near. This launch has also triggered a wider debate in the crypto community. Supporters argue that this could be a sign of a new era for cryptocurrency, with Trump’s involvement signaling mainstream acceptance. On the other hand, critics warn that the launch of a meme coin by a sitting president may be a risky move, questioning its impact on the legitimacy of cryptocurrencies.
