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Among the vast array of positive news coming from the crypto community, with Donald Trump poised to take the presidential seat on January 20th, one development that has particularly excited the community is the release of the TRUMP coin.
Donald J. Trump officially tweeted about this token through his official handle, and since its launch, the token’s price has surged by more than 8000%. Is this new TRUMP Solana meme coin the best crypto to buy now?
What is TRUMP?
TRUMP is the latest in the long line of Trump-themed meme coins. However, the difference is that this meme coin has been officially released by Donald Trump himself. Developed on the Solana blockchain, this is the only official TRUMP meme coin, and it will give users access to the Trump community.
The release of this meme coin marks the upcoming inauguration of Donald Trump as the president of the United States. However, the official website also reveals that this token’s theme is also to commemorate the assassination attempt on President Trump on July 13th, 2024.
With this token, the official website says that users own a piece of history and join the community of patriots.
The TRUMP price action has been exceedingly positive, and people are coming in droves to invest in this crypto. The meme coin has crossed the $4 billion market capitalization within hours of being launched and is currently trading around the $24 level.
A Look at TRUMP Tokenomics
200 million TRUMP tokens are available at release and will grow to 1 billion tokens over the next three years. Each time tokens are released, the allocations will be revealed. In terms of use cases, nothing has been highlighted by the official website.
However, it is clear that this token has been designed more as a social movement and less as an instrument to generate profits.
Is TRUMP a Good Investment?
The timing of the release of TRUMP makes it a suitable investment for many reasons.
First, this release comes shortly after Trump’s plans to create strategic reserves for tokens created on US soil, such as Solana and USDC. So, at least for the short term, this news will fuel its growth.
In the long term, however, investors should keep a close watch on the new use cases that develop across the TRUMP ecosystem. The release of these tokens over the next three years will also reveal allocations, which means more tangibles may be coming to its ecosystem. This could make TRUMP a suitable long-term investment as well.
Furthermore, TRUMP is part of the Solana ecosystem, which means it has the Solana meme coin meta narrative going for it, which could boost its value even higher. It is possible that TRUMP could create another meme coin mania and become one of the top meme coins on the market. That said, the market is still volatile, and much can’t be said about TRUMP’s future since the token has only just launched.
Additionally, even though TRUMP has surged by more than 10,000% within hours of being launched, it is clear the token is very overvalued. Therefore, investors should further diversify their investments by picking other meme coins as well.
However, things aren’t all on the up and up with this cryptocurrency. Critics have recently pointed out through bubble maps that 80% of the total supply is held in one wallet.
However, things aren’t all on the up and up with this cryptocurrency. Critics have recently pointed out through bubble maps that 80% of the total supply is held in one wallet, indicating the possibility of a rug pull.
While this could be a cause for concern to many, some who have commented on this issue have also pointed out that the tokens are locked for 36 months.
New Meme Coin Alternatives to Invest in
The two following meme coins can be considered suitable picks to buy alongside TRUMP tokens, especially since TRUMP is already one of the top four meme coins by market capitalization.
Solaxy
While TRUMP leverages Solana and Trump’s popularity, Solaxy is generating buzz across the cryptocurrency space through its simple utility.
Designed to provide a Layer 2 solution to the Solana blockchain, Solaxy aims to make the existing Solana chain more versatile. Its goal is to enhance Solana’s efficiency by enabling off-chain transactions, ensuring there are no more downtimes and that enhanced scalability is achieved.
However, Solaxy’s recent popularity among the best meme coin pre-sales on the “best crypto to buy now” list is also due to its Pepe Einstein meme, which has introduced a unique, fun factor to the ecosystem. With over $11 million raised so far, Solaxy can potentially become another explosive asset once the presale concludes.
For further details, visit the official website.
Meme Index
Since diversification is key to generating profits from the meme coin economy, meme coin indices have started to gain traction. However, in their current, centralized form, they have proven to be less than optimal. This is why Meme Index offers a different solution. Portrayed as the world’s first decentralized meme coin index, Meme Index is a robust cryptocurrency project that features community-run indices.
Investors who hold the main token of the ecosystem, MEMEX, can participate in the Meme Index DAO. They can vote to decide which coins to add or remove from the indices. This new approach to index rebalancing is another reason this token has been added to many “best crypto to buy” lists, including those of publications like Blockchain News.
Meme Index also gives users access to four indexes for different types of volatility. These range from the Meme Titan Index, with tokens that are relatively stable in terms of price action, to the Meme Frenzy Index, featuring assets that could disappear within a day of being active. This inclusive approach has allowed Meme Index to raise upwards of $2.5 million to date.
The project has also caught the eye of prominent experts like Michael Wrubel.
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