Solana meme coin price tripled early Sunday as crypto exchanges Binance and Coinbase listed Donald Trump.
The official meme coin by Donald Trump (TRUMP) surged to triple value in an early Sunday rally. The pump saw the Solana token elevate above $73 early Sunday as leading centralized exchanges revealed plans to list the meme coin.
TRUMP Token Sudden Triumph
The early Sunday events saw the price surge to $73.43. However, TRUMP would surrender some gains as it retraced to hover around $59, per data from CoinGecko. The sudden upward trajectory was sufficient to lift the coin into the top 15 crypto assets by market cap.
Despite the slight pullback after the leap from under $25, TRUMP still portrays a staggering success in ranking 21st largest per CoinGecko list. The meme coin launched out of nowhere, allowing the early buyers to reap enormous gains. The remarkable gain sucked attention away from Dogecoin (DOGE) and Shina Inu (SHIB) at the same time bolstered Solana (SOL).
TRUMP token posed a surprise Friday night when Donald Trump’s social media accounts revealed the unveiling of the official Solana meme coin. The debut was three days before his inauguration as the 47th president.
The Degen traders who bought the TRUMP token yielded hundreds of millions in gains. The on-chain sleuths and security experts dived for the red flags. However, Trump’s X and Truth Social updates remained live for the past hour, fueling further gains.
The greatest casualty of the TRUMP surge is Dogecoin, which slumped 3% to change hands at $0.3469. However, the token is 4% up to $0.3813, raising its weekly gains by 20.2% per CoinGecko data.
While Dogecoin is superior to the TRUMP token, the upward trajectory several days into its debut can threaten its dominance. Such is evident in TRUMP’s triumph over SHIB, which now has a $12.32 billion market capitalization.
Today, TRUMP ranks as the third-largest meme coin by market value, edging over Shiba Inu (SHIB) from the runner-up slot. The Trump’s token must sustain the present momentum to challenge DOGE from the top spot.
TRUMP Listings on Crypto Exchanges
The world’s largest crypto exchange, Binance, revealed the TRUMP listing on January 19. Crypto exchange OKX would follow suit with the token listing. The US largest crypto exchange, Coinbase, confirmed adding TRUMP to the planned listings. The recent additions had a quick path to spot trading.
The TRUMP-fueled activity on the Solana ecosystem propelled the native coin (SOL) to set a new all-time high (ATH) at $293. However, SOL has retraced to the current $252 price, though still up 44.5% on the week.
More Trump-Affiliated Meme Coins?
Besides TRUMP, World Liberty Financial (WLF) has acquired and registered new Ethereum domain names. The decentralized finance venture appears in preparation for the launch of the additional coins.
A recent update by The Kobeissi Letter indicated that WLF’s recent activity points towards unveiling more meme coins. In particular, the venture has four new Ethereum domain names.
The financial research organization reported the addition of Worldliberty.eth, trump coin.eth, erictrump.eth, and barrontrump.eth via bulk transfers in late Sunday transactions as viewed from Etherscan data. Such development follows the acquisition of Ethereum, which is valued at $48 million, hours after unveiling TRUMP.
Inscribing Atlantis chief executive Erin Redwing anticipates the future release of meme coins to mirror the playbook by Zak Folkman. The executive, who is a WLF co-founder, openly promotes the content of the business lifestyle.
Meanwhile, MELANIA’s debut added to the TRUMP meme coins from the same family. The meme coin saw the official Melania Trump account on X announce the token launch. The token was also announced through the incoming First Lady’s platform on Truth Social.
Although unable to replicate the TRUMP surge, the MELANIA printed an uptick to $13.05, though it has retreated to $8.01, though the Solana-based token is 7.8% up in the past 24 hours.
Editorial credit: cristiano barni / Shutterstock.com