President Donald Trump's official meme coin has been a huge success since its launch five days ago, witnessing high trading activity and investor participation.
Data currently analyzed by on-chain intelligence company Cryptoquant show Its official Trump (Trump) has recorded a total trading volume of approximately $38 billion across centralized crypto exchanges since its release on January 17th. Spot trading volume of the token exceeded $17 billion on January 19th. However, recent numbers show that volume has nearly doubled in the past few days.
playing cards pump
Cryptoquant finds that Binance, the world's largest crypto exchange, dominates spot trading volume with $16 billion, while other platforms such as OKX and Bybit are sued for $7 billion and $6 billion respectively I did.
Trump memes were promoted as a cryptocurrency created to express support for and commitment to Trump's beliefs and ideals. These coins reside on the Solana blockchain, with 200 million playing cards currently in circulation and the total supply expected to grow to 1 billion over the next three years.
Less than two days after its launch, Trump became one of the top 20 Altcoins on Coingecko and Coinmarketcap (currently number 25) with a market cap of nearly $15 billion. The rally also made the token the second largest meme coin, trailing only Dogecoin (Doge).
The official Trump Pump was never seen before in the crypto space and was ranked as the top trending token across the sector just days after its launch.
Major fixes
The token price soared from 0 to $72 in less than 48 hours amid an increase in official Trump market cap and spot trading volume. Although it was included in the price of Meme Coin correction Significantly by the time of writing, Trump was trading at $35.88 on CoinmarketCap, an increase of over 450% from its trading price of $7 on January 18th.
Notably, the official Trump market cap currently stands at around $7.18 billion, and analysts attribute this decline in price and market cap to competing meme coins by First Lady Melania Trump. Attributable to Melania's launch.
Interestingly, President Trump tried to downplay Trump's success in a press conference the day after his inauguration. However, there is no denying that Memecoin pumps have created new Crypto millionaires overnight.
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