Due to its $14.5 billion market capitalization, Donald Trump's $TRUMP meme coin is sweeping the cryptocurrency world.

Due to its $14.5 billion market capitalization, Donald Trump's $TRUMP meme coin is sweeping the cryptocurrency world.

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When Donald Trump, the newly elected president of the United States, announced his official meme coin, "TRUMP," on January 17th, the cryptocurrency market took off. One trader made $20 million in less than an hour after the news broke. Trump posted the announcement on his social media platform, Truth Social, with the caption, "My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!"

Donald Trump's launch of the $TRUMP memecoin on Solana has swept the cryptocurrency world by storm and is currently the most talked-about topic on a number of social media platforms, according to Cryptotimes. Within two hours of its debut, the coin's market value skyrocketed to an astounding $7.7 billion, a 4,200% increase.The unexpected launch, paired with its huge growth, has aroused disputes.

According to the news portal, a trader made a quick move and used USDC to purchase nearly 6 million TRUMP coins for about $1.1 million. In just 90 seconds, the trader's investment increased to $23 million. Although they have only sold a small amount of the 5.43 million TRUMP coins they currently own, Lookonchain reports that they have made a profit of more than $20 million. See more