The meme coin known as Official Trump has increased in value since its launch on January 17, reaching $38.31 at the last check on Sunday – one day before the inauguration of the US president.
The cryptocurrency (TRUMP).
The coin's collection reflects a growing desire for celebrity-endorsed or launched meme coins. The downside is that these types of assets often experience speculation due to their viral appeal.
Some are even called for pulling a rug.
Trump's official base is both for him, but at last check on Sunday, he's up nearly 330%.
What the critics are saying
The creators of TRUMP, and Trump himself, are leaning into the president's brand of politics, positioning the token as both a financial asset and a cultural statement. For example, its logo – emblazoned with the words “Fight Fight Fight” – distinguishes the token from other unofficial Trump meme coins that have flooded the market.
Trump's official listing on Binance and OKX is further legitimized, giving access to millions of global traders.
However, the medal has not been without controversy. Critics an argument that TRUMP represents a conflict of interest, especially since Trump is about to be sworn in as president of the United States.
Stephen Findeisen, also known as the crypto sleuth Coffeezilla on YouTube, called the launch”historical folly.”
Anthony Scaramucci, a Bitcoin bull who briefly worked for Trump and now runs the investment firm SkyBridge Capital, warned his million followers on X not to “harden” themselves about putting on The official Trump meme coin floated.
Ben Meiselas, co-founder of Meidas Touch, suggested that Trump could have focused on more pressing issues rather than meme coins.
Despite the criticism, the rapid rise of TRUMP shows the continued influence of political and cultural figures in the cryptocurrency market, raising questions about the intersection between finance, politics, and blockchain technology.
Barstool Sports founder Dave Portnoy also chimed in, equating Trump's meme coin launch to the alleged pump-and-dump scheme involving Haliey Welch, the viral”Lucky Hawk“star.
It is worth noting that the Trump family is already actively promoting indicators linked to World Liberty Financial. In September, CoinDesk reported that 70% of the platform's tokens were held by the founders, team members, and service providers.
The same goes for Official Trump. About 80% of the meme coin is reportedly held by CIC Digital, an affiliate of the Trump organization.
