The meme coin market was introduced with two new meme coins recently that have been constantly making headlines. A couple of days before Donald Trump was sworn in as the President, the Trump Organization rolled out the TRUMP coin. While several early investors snagged major profits from the asset, the President himself made quite some money. Latest reports reveal that the team behind the project has been sitting on significant profits.
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TRUMP Coin’s Growth
It looks like TRUMP’s cryptocurrency wasn’t exempted from the latest crash in the market. The meme coin started at a low of $6.24 and went on to surge to a high of $75.35. This marks a staggering 188% surge. But sadly this uptick was stopped by the recent market crash. TRUMP coin witnessed a drop of 15.45% over the past 24 hours. At the time of writing, the meme coin was priced at $17.87.
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The President’s Profits
According to a recent post on X, the Trump team may have made around $802 million since the launch of the meme coin. It should be noted that this includes moving over $482 million worth of USDC, SOL, and TRUMP to exchanges. In addition, it excludes the roughly $16 billion in TRUMP and MELANIN tokens that the team owns.
Trump may have made $802m+ since launching his memecoin
-Team has sent $482M+ of USDC, SOL, and TRUMP to exchanges
-$240M of USDC is held in out-of-range liquidity + $50M in-range
-They have made $29.3M+ in USDC feesDoes not include $16B of TRUMP the team still holds pic.twitter.com/mxujlEmxj0
— Conor (@jconorgrogan) February 3, 2025
It is worth noting that Trump’s coin has come under scrutiny by the public for many reasons. Trump Organization owns 80% of the meme coin. Investors were concerned about the firm’s majority ownership. If the company chooses to abruptly sell its coin holdings at the investors’ expense. Speaking about the same, Leonard Kostovetsky, associate professor of finance at Baruch College’s Zicklin School of Business stated,
“In terms of investors, of course, there’s a huge red flag. All of these meme coins don’t really have any value beyond just what other people are willing to pay for them. They’re pure bubbles.”
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