Donald Trump Labeled Wallet Has Over $1M of TRUMP Meme Coin

24 janvier 2024

The issuance of TRUMP tokens is not directly related to Donald Trump himself, but some individuals are utilizing these tokens as a speculative investment in his ongoing presidential campaign.

According to data tracked by Arkham, the value of TRUMP meme tokens, sent to a crypto wallet labeled with Donald Trump's name, has surged from a few thousand dollars to over $1 million.

It's important to note that the creation of TRUMP tokens in August was not endorsed by the former U.S. President, but rather, some individuals are treating these tokens as a speculative bet on Trump's potential political comeback.

Originally, Trump's wallet received $7,100 worth of TRUMP tokens from the developers between August and October 2023. Sending tokens to a well-known figure's wallet is a common marketing strategy employed by meme coin creators to attract attention and generate buying interest.

Despite the initially stable prices after issuance, recent victories by Trump in the primaries for the 2024 elections have renewed interest in these speculative tokens. Prices surged from 19 cents in November to over $2 on Wednesday.

As of Wednesday, the market capitalization of TRUMP tokens stands at over $85 million. It's worth noting that there are various Trump-themed meme tokens on different blockchains, but only one group has managed to gather a substantial community.

Simultaneously, the value of Trump's wallet has seen a significant increase, reaching $2.5 million. The wallet holds $750,000 each in ether (ETH) and wrapped ether (WETH), along with small amounts of various other tokens, most of which were likely sent to the wallet without solicitation.