It was early January when President Donald Trump dropped a meme coin like you’ve never seen before! The HYPE for memecoins on Solana got to new heights when $TRUMP was released on the blockchain. The same guy who’s known for his acid tweets and brash moves jumping headfirst into the wild world of crypto.
POTUS had some skin in the game, with the ICO drop that had big numbers and big moves! The Initial Coin Offering blasted 200 million $TRUMP tokens into the public market like a rocket to the moon. However, there was a twist... CIC Digital LLC and Fight Fight Fight LLC, kept 800 million tokens for themselves.
Guess what? Those tokens won’t be unlocked all at once, as they’re set for a three-year drip feed. Talk about a long-term play or just a strategy to avoid Pump & Dump speculations?
When $TRUMP launched it shot up over 300% overnight like a degen trader’s dream. Price spiked to around $75 per token, which meant the market cap soared to $15 billion. I wasn't as early as the Donald's inner circle so my FOMO kicked in at $19.99 per token!
Talk about instant hype, as $TRUMP was basically the hottest new coin on the block. What goes up... must come down. The price took a dive, dropping to about $19 per token. Classic crypto volatility or a smart plan?
I went in like a true Chad and spent 139 USDC on 7 TRUMP tokens, feeling that the FOMO didn't made a full circle. I was partially right, because everything in crypto happens at 10x speed!
The $TRUMP coin wasn't just some random memecoin, as it was tied to a sitting president. This means that this token had federal regulation written all over it. Critics are coming out of the woodwork, saying this could be a conflict of interest, especially with Trump standing to profit financially from a cryptocurrency that’s getting tons of attention.
Is it ethical? Is it fair game? Well, crypto’s a free market, but when you throw a sitting president into the mix? The debate gets real. The coin shows the potential of blockchain and the power of a meme coin to tap into mass appeal, but also exposes the ethical gray areas we have to navigate in this space.
This one’s going to be talked about for a while, no doubt. We’re watching the future of crypto unfold with a heavy dose of political flavor. Let’s see where it goes! What I know for sure is that I timed well my exit, selling $TRUMP for a 222% profit. I bought not that early, sold near the All-Time High, and made a nice profit!
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