Official Trump’s unprecedented surge has resulted in the token reaching $38 billion in spot trading volume across centralized exchanges less than a week after its debut.
The official meme coin of United States President Donald Trump has been a resounding success since its introduction five days ago, with significant trading activity and investor participation.
Since its publication on January 17, Official Trump (TRUMP) has generated approximately $38 billion in total trading volume across centralized crypto exchanges, according to data analyzed by the on-chain intelligence firm CryptoQuant. On January 19, the spot trading volume of the token exceeded $17 billion; however, the most recent figure suggests that the volume has nearly doubled in the past few days.
Binance, the world’s largest crypto exchange, dominated the spot trading volume with $16 billion, according to CryptoQuant. Other platforms, such as OKX and Bybit, followed suit with $7 billion and $6 billion, respectively.
The Trump meme was marketed as a cryptocurrency that was developed to demonstrate support for and engagement with Trump’s beliefs and ideals. Currently, 200 million TRUMP are in circulation on the Solana blockchain, with the total supply anticipated to increase to one billion within the next three years.
TRUMP achieved a market capitalization of nearly $15 billion and gained a spot among the top 20 altcoins on CoinGecko and CoinMarketCap within two days of its introduction (currently at number 25). As a result of the rally, the token became the second-largest meme coin, trailing only Dogecoin (DOGE).
Following its debut, the official Trump boost was the most prominent token in the entire sector for the following few days. This was a first in the crypto universe.
In less than 48 hours, the token’s price soared from 0 to $72 amid the increase in official Trump’s market value and spot trading volume. Despite the fact that the meme coin’s price had corrected considerably by the time of writing and was trading at $35.88 on CoinMarketCap, TRUMP is still up over 450% from its trading price of $7 on January 18.
Analysts have attributed the recent decline in official Trump’s market cap and pricing to the introduction of MELANIA, a competing meme coin by First Lady Melania Trump. It is worth noting that the market cap currently stands at approximately $7.18 billion.
It is intriguing that President Trump attempted to minimize the success of TRUMP during a press briefing the day following his inauguration; nevertheless, the memecoin’s surge has generated new crypto millionaires overnight.
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