The $TRUMP memecoin built on Solana experienced a sharp surge after the U.S. President Donald Trump posted on his social media platform Truth Social on March 24, declaring his affection for the token:
"I LOVE $TRUMP — SO COOL!!! The best of all!!!!!!!!!!!!!!!!!" he wrote.
Trump and Dump
Well-known trader Eliant Capital mocked Trump’s sudden promotion of the coin, referencing Trump’s earlier claim that he "doesn't follow the stock market."
“But he does seem to follow the TRUMP coin,” Eliant noted.
Despite the ridicule, the pump worked: within an hour, $TRUMP surged over 11%, before quickly retracing to around $11.58. Even so, the token made it into the top 5 most profitable cryptocurrencies in the past 24 hours. Its daily trading volume jumped 332.18%, reaching $1.37 billion.
Amid the frenzy, a whale investor spent $5 million buying $TRUMP immediately after Trump’s post. Just an hour later, they sold the tokens and realized a loss of $207,000.
According to Lookonchain, the same investor had previously earned around $108 million from speculating on this exact token.
About the $TRUMP Token
The $TRUMP token was launched ahead of Trump’s inauguration period and has a maximum supply of 1 billion tokens. Of that:
- 200 million are in circulation.
- 800 million are held by two companies, CIC Digital LLC and Fight Fight Fight LLC, both linked to the Trump Organization.
These remaining tokens are frozen for three years.
As per CoinMarketCap, the token’s price has dropped 84,26% from its all-time high of $75.35, reached just before Trump’s inauguration in January. Its fully diluted market cap has lost approximately $65 billion.
WLFI's Investments in MNT and Ongoing Losses
Meanwhile, data from Lookonchain reveals that the World Liberty Financial (WLFI) fund, which is reportedly backed by the Trump family, bought 3.54 million MNT tokens (Mantle) worth roughly $3 million at an average price of $0.84. The purchase happened just 30 minutes before the $TRUMP rally news broke.
WLFI’s total crypto investments now exceed $346 million, with holdings in:
- Ethereum (ETH).
- Wrapped Bitcoin (WBTC).
- TRON (TRX).
- Chainlink (LINK).
- Aave (AAVE) and others
However, the unrealized loss on the entire portfolio is currently estimated at $111 million.
Related reading:
- ARK Invest Bets on Bitcoin and Ethereum but Not on Memecoins — Cathie Wood
- Investors Exit ‘Useless’ Memecoins as Bernstein Predicts Liquidity Shift to DeFi and NFTs
- "Trump is Killing Crypto" – Expert Warns of Market Risks
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.