Move over Dogecoin, there’s a new meme coin in town—and this one comes with a side of political controversy. Over the weekend, President-elect Donald Trump announced the launch of his official meme token, cleverly (or controversially) dubbed $TRUMP. As with all things Trump, the crypto world couldn’t decide whether to laugh, cheer, or panic.‍

The $TRUMP Explosion: Meme Coin Madness

When Trump unveiled the token on Saturday, declaring it a symbol of "winning," crypto enthusiasts wasted no time jumping on the hype train. The price shot up from just $7 to a jaw-dropping $73 in no time. Triple-digit gains? That’s meme coin magic for you.

But here’s the twist—$TRUMP isn’t just a meme coin. It’s being marketed as a fan token with potential perks like exclusive event access, VIP content, and other goodies delivered straight to your crypto wallet. A clever way to keep his fan base engaged or just another money grab? Depends on who you ask.‍

Critics Aren’t Amused

Of course, not everyone is throwing confetti. Crypto analyst ZachXBT didn’t hold back, tweeting a scathing meme that read, “Make crime great again.” 

Others, like the investor Crypto FX, were quick to call $TRUMP a “pump and dump” scheme. “Anyone buying this meme coin, you asked for it. This is beyond embarrassing for the crypto space,” he said, likely shaking his head in disbelief.

The token’s rocky performance didn’t help its case. After peaking at $73, the price plunged to $40 as Melania Trump launched her own competing token. ‍

The Great Divide: Supporters vs. Skeptics

Despite the rollercoaster ride, some investors remain bullish. Crypto enthusiast Wolf of the All Street summed it up perfectly: “Good for crypto, bad for humanity.” He pointed out that while the token has helped onboard millions of new users into the crypto space, the speculative frenzy around it reflects the darker side of meme coins.

And then there’s Frank Chaparro, Director of Special Projects at The Block, who sees a silver lining in all this chaos. “Trump’s involvement, for better or worse, could be a stamp of approval for meme culture and platforms like Solana,” he said. Chaparro also mused about the token’s morality: “If it funds charity or infrastructure, great. But if it’s just a money printer for Trump, well…”‍

The Numbers Don’t Lie

Love it or hate it, $TRUMP is making waves. Data shows it’s now the most actively traded coin on Binance, raking in $6.3 billion in volume over 24 hours. Yes, you read that right—it even beat Bitcoin and Solana.‍

What’s Next for $TRUMP?

As with all meme coins, survival depends on one thing: the community. Will $TRUMP’s loyal fans hold the line, or will the hype fizzle out as quickly as it began? Experts like QwQiao are skeptical, especially given that 80% of the token supply reportedly went to insiders.

For now, $TRUMP stands at the crossroads of opportunity and controversy. Will it become a beacon of innovation or just another punchline in crypto history? One thing’s for sure—it’s the token everyone’s talking about, and in the world of memes, that’s half the battle.‍

Final Thoughts

So, what do you think? Is $TRUMP the next big thing in fan tokens, or just another wild ride in the crypto circus? Either way, the story of this meme coin is far from over— for there are so many Trump-influenced events that we can expect starting with him returning to office.