Donald Trump has seemingly launched an official Solana meme coin named TRUMP, just before his second term in office, leading to significant trading activity. Initial skepticism surrounded the project, as it resembled previous celebrity meme coin scams. However, as Trump's official social media accounts promoted the coin, traders quickly accumulated it, resulting in hundreds of millions in trading volume and pushing its price to $7.31. The project is associated with CIC Digital, Trump’s past NFT licensee, and the coin's structure mirrors prior NFT launches. As on-chain sleuths investigated, concerns lessened when Trump's posts remained active, indicating legitimacy. The market capitalization was estimated at $7.1 billion, although this could be as low as $1.5 billion due to locked coin supplies. Trump's pro-crypto history includes backing a decentralized finance platform and plans for regulatory changes. As speculation continues, the legitimacy of the project remains a hot topic among traders and analysts.

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