Trump’s Memecoin Launch

When President-elect Donald Trump announced the launch of a memecoin on his final business day before inauguration, many suspected a hack. However, one trader seized the opportunity.

Within two minutes of the post on Truth Social, this trader exchanged 1.09 million USDC for 5.7 million TRUMP tokens on the Meteora market, as reported by analysts LookOnChain. They paid an $85,000 tip to Jito, a Solana infrastructure company focused on MEV, a strategy allowing users to expedite transactions by offering higher fees.

Soon after, the trader transferred the TRUMP tokens to another wallet, identified by its Solana name ff.sol, and redistributed the funds across several wallets.

In the following hours, a portion of the tokens were sold for USDC in various wallets, with some reinvesting stablecoins to buy back TRUMP tokens and selling again. LookOnChain estimates the trader sold 1.35 million TRUMP for $3.65 million in total.

This leaves the trader with 4.62 million TRUMP tokens, valued at $87 million, pushing their total holdings and proceeds above $90 million.

Since its launch, the TRUMP memecoin has surged dramatically, reaching a $4 billion market cap and ranking among the top 40 tokens on CoinGecko. Given the substantial supply locked up, its fully diluted valuation is at $21 billion, positioning it within the top 10 tokens if that were the current market cap.

Both the Solana-based exchange Jupiter and Meteora have confirmed the legitimacy of the Trump memecoin.