Donald Trump’s official meme coin, TRUMP, almost tripled in worth from Saturday night to early Sunday, blasting above $73 amid rising momentum as main centralized exchanges shared plans to listing the Solana token.
Although the worth surge has since cooled and TRUMP has retraced to a present mark of about $59, it peaked at a worth of $73.43 early Sunday, per knowledge from CoinGecko. That was sufficient to position the coin within the prime 15 cryptocurrencies by market cap, although at its present worth, it ranks twenty first on CoinGecko’s listing.
Even with that slight retreat after rising from a worth underneath $25 on Saturday, TRUMP continues to be a staggering success, launching out of nowhere late Friday and exhibiting early patrons with with huge positive aspects—all whereas sucking consideration away from another meme cash and giving an enormous increase to Solana within the course of.
Dogecoin, the unique meme coin and nonetheless largest by market cap, is now down 3% over the past day as its dip continues following TRUMP’s launch. Whereas nonetheless up 14% on the week because of earlier positive aspects forward of the Trump drop, it has fallen from a worth above $0.43 late Friday to underneath $0.39 as of this writing.
And TRUMP is proving to be a severe competitor. Whereas DOGE nonetheless has a a lot bigger market cap primarily based on circulating provide—$57 billion vs. almost $12 billion—TRUMP’s totally diluted worth (FDV) is now bigger primarily based on all the provide, which incorporates the 80% of tokens which are locked up and can steadily unlock over the subsequent three years.
TRUMP is at present the third-largest meme coin by market cap, simply behind Shiba Inu (SHIB) within the runner-up slot, whereas DOGE stays on prime. However Trump’s token might problem Dogecoin extra instantly if this momentum continues.
Binance, the world’s largest crypto trade, listed TRUMP for buying and selling early Sunday after saying plans on Sunday, plus OKX additionally listed the token for buying and selling. And Coinbase, America’s prime trade, has added TRUMP to its deliberate listings, although latest additions to the roadmap are inclined to turn out to be obtainable for spot buying and selling in a short time.
Solana’s native coin, SOL, has continued to reap the advantages of its affiliation with TRUMP, surging to a brand new all-time excessive worth mark of $293 early Sunday. It is at present priced at $269, up 11% on the day and 43% on the week.
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