The majority of the crypto community is pinning its hopes on the new administration of Donald Trump as a game changer for the industry. Much of this optimism stems from the promises he made during his campaign, which many believe could usher in a new era of policies that favor cryptocurrency adoption and innovation.
Although the inauguration has not yet officially begun, recent market trends offer a taste of the excitement it could bring to the sector. This preview comes in the form of Donald Trump’s newly launched memecoin OFFICIAL TRUMP, which has generated a wave of enthusiasm that rivals that of the 2021 bull market. Not only has the coin made headlines, but it has also raised questions about the future of the industry.
Record-breaking debut for Trump Coin
On January 17, 2025, Donald Trump made a surprising announcement on the social media platform Xand unveiled the release of $TRUMP, a memecoin associated with his name and legacy.
According to the meme coin official websiteThe meme coin was created on July 13, 2024 in recognition of Trump’s “Courage & Strength.” Initially there was skepticism about the legitimacy of $TRUMP, but official confirmations soon followed and investors began buying in bulk.
The meme coin, which launched on the Solana network, was immediately listed on major crypto exchanges including Bybit, KuCoin and Bitget. As a result, the value increased massively within a few hours and the market capitalization quickly rose up the cryptocurrency rankings.
Some crypto analysts have raised concerns about the meme coin’s allocation as 80% of the $1 billion $TRUMP tokens have been allocated to issuers. However, this wasn’t enough to deter buyers, both old and new crypto investors continued to flow in.
At the time of writing, the official Trump meme coin is trading at $42.2, with a market cap of $9.39 billion, a fully diluted value of $46.93 billion, and a 24 -Hourly trading volume of $11.24 billion. The magnitude of these numbers was unprecedented and the meme coin has officially broken previous records for trading activity and volume among newly launched cryptocurrencies
The meme coin has also created demand for Solana, its parent blockchain. This, in turn, has caused the price of Solana to rise by double digits in the last 24 hours and is now trading at $0.01 All-time high above $275.
What’s next for the crypto industry?
The creation of a meme coin by the US President-elect was unprecedented, but it undoubtedly shows Trump’s positive attitude towards cryptocurrencies. Therefore, the impact of the launch of $TRUMP is expected to go beyond immediate success. It could be the much-needed foundation for a return of bullish momentum like the 2021 bull market.
The launch of the meme coin has also highlighted the growing intersection between politics and cryptocurrencies. Current discussions about Creation of a Bitcoin reserve And Prioritizing US-based digital currenciessuch as Solana and XRP, have further highlighted the role digital assets could play in shaping financial policy under Trump’s leadership.
Interestingly, the success of the meme coin has not affected the current Bitcoin rally. The leading cryptocurrency has continued his way up above the $100,000 mark, along with inflows into Official Trump ($TRUMP).
Featured image from Axios, chart from TradingView