At a press conference held on January 21, the new US President Donald Trump answered questions from journalists about the Official Trump memecoin (TRUMP).
Trump is “not particularly aware” of what is happening with the TRUMP token. Nevertheless he confirmedwhich is involved in the creation of the “meme” coin.
Donald Trump mentioned TRUMP Coin
At the press conference, reporters asked whether Trump received personal benefits from the TRUMP memcoin. The politician answered negatively, and also noted that he knew practically nothing about this token.
When Trump was informed that his token had brought in billions of dollars, he noted that it was “nothing for these guys.” At that moment, the politician referred to the CEOs of crypto companies who actively support him.
After the words of the US President, the price of TRUMP fell sharply. Bloomberg analyst James Seyffart even wrotethat Trump “just destroyed his own memecoin.”
However, the value of the “meme” token soon recovered. According to CoinGeckoover the past 24 hours the price of TRUMP has increased by 22.9%. At the time of writing this material, the coin is trading at $43.53.
Memcoin’s capitalization reached $8.6 billion, and the total trading volume over the past 24 hours was $13.8 billion.
The Official Trump token appeared on Saturday, January 18th. The price of TRUMP quickly skyrocketed 1,000+%, going from $6 to $75 in just 36 hours.
Despite the general hype, some members of the crypto community consider Trump’s memcoin to be suspicious. In particular, many are concerned about the distribution of TRUMP – 80% of the coins are locked in a wallet that only the creators of the project have access to.
Trump’s wife Melania also released her own memecoin – Official Melania (MELANIA). The asset’s capitalization now exceeds $780 million.
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Source: Cryptocurrency
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