Yigit Taha OZTURK 
U.S. President-elect Donald Trump has sparked high hopes in the crypto industry. However, whether his Solana (SOL)-based memecoin, Official Trump (TRUMP), is a step in the right direction remains uncertain. Time will tell.
TRUMP Token Launch and Initial Impact
Launched on January 17, the TRUMP Token surged 10,643% in value within just a few days. According to data from the Moonshot platform, the token’s price reached $27.50. The launch took place just before Trump’s presidential inauguration on January 20, fueling speculation that crypto could become a national priority under his administration.
The TRUMP Token also impacted Solana’s native token, SOL, pushing it to an all-time high of $270. This contributed to a significant increase in Solana’s decentralized exchange volumes.
New Users Joined the Crypto Space
According to Moonshot, the token’s launch brought over 200,000 new users to the blockchain. Scott Melker, aka “Wolf of All Streets,” stated that the TRUMP Token will onboard millions of new users into the crypto space, though he deemed it “bad for humanity.”
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Analysts have also labeled the TRUMP Token as a “gratuitous cash grab,” noting that 80% of the token supply is concentrated in a single wallet. Arkham Intelligence speculated that if this wallet belongs to Trump, the memecoin increased his net worth to $22 billion overnight.
The Crypto Community Is Divided
Some experts believe the token could harm the industry in the long term. Luke Youngblood, founder of Moonwell Finance, said it’s “bad for crypto in the long run” but still advocated for listing the token on major exchanges.
On the other hand, Erik Thoughts argued that Trump’s control of most of the token supply could make TRUMP one of the safest coins to hold, as Trump has a vested interest in the token’s success.
Is This the Right Direction?
Umar Ashraf, founder of TradeZella, stated that a president owning or promoting a memecoin isn’t the right direction for crypto.
The TRUMP Token launch coincided with the Crypto Ball, an event honoring Trump that gathered industry leaders like Michael Saylor, Brian Armstrong, the Winklevoss twins, and Trump’s AI and crypto advisor David Sacks.
While the TRUMP Token has created significant momentum in the crypto world, its long-term effects on the industry remain uncertain.
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