Trump Launches An Official Memecoin And Divides The Crypto Community

The surprise promotion of a memecoin on Donald Trump’s social media has sown doubt in the crypto industry. As the TRUMP token reaches a market capitalization of $8.3 billion in just a few hours, experts are questioning the authenticity of the posts and their implications for the market.

An unexpected launch that raises questions

This Saturday, January 18, the official accounts of Donald Trump on X and Truth Social created a stir by announcing the launch of a “new official meme” on the Solana blockchain. “It is time to celebrate everything we represent: VICTORY!”, the message stated, inviting the community to acquire the TRUMP token.

The impact was immediate: in just three hours, the TRUMP token exploded to reach a market capitalization of $8.3 billion, with a price of $8.41 according to the trading platform Moonshot.

This sudden announcement quickly raised suspicions in the crypto industry. Several experts in the field have expressed doubts about the authenticity of the posts, suggesting a possible compromise of the accounts of the ex-future president.

Max Schwartman, CEO of BecauseBitcoin, notably warned of the potential consequences: “If this is a hack, it will seriously dampen Trump’s optimism towards crypto right as he takes office.”

Skepticism was also expressed by JRNY Crypto, a recognized industry analyst, who publicly questioned the absence of official validation by Trump’s team beyond simple posts on social media.

Immediate repercussions on the crypto market

The announcement immediately shook the crypto market, with a particularly marked impact on the Solana ecosystem. The price of SOL surged by 4.12% to reach $228, driven by a massive influx of investors attracted to this controversial new project.

Analyst Will Clemente reports an unprecedented situation on the Solana blockchain: “I have never seen anything like this, the price of Solana surges while everything on the chain collapses, investors panicking and selling for fear of missing out on Trump’s memecoin.”

Edward Morra, an experienced trader, warns of the risks ahead: “This will end badly one way or another and will lead to a broad market liquidation as the inauguration approaches.“

Even observers convinced of the authenticity of the project maintain a cautious stance. Daniel Got Hits, followed by nearly 62,000 followers on X, claims he will not “touch that thing with a ten-foot pole.”

In summary, this turmoil comes just days before Donald Trump’s presidential inauguration, amidst speculation about a possible decree making crypto a national priority.