The Solana-based TRUMP memecoin, launched by U.S President-elect Donald Trump, experienced a 3000% price surge merely two hours after its late Friday launch.
However, a potential bump has emerged on its road as some have observed interesting details about the distribution details of the token’s total supply.
80% of the tokens 1 billion token supply is owned by one wallet, which has been linked to an affiliate company of The Trump Organization.
Trading began for the TRUMP coin after Donald Trump announced the memecoin’s launch on his official social media accounts on Friday, hours before the Inaugural Crypto Ball took place.
The token surged to a market capitalization of $4.3 billion, while registering $6.3 billion in trading volumes. TRUMP is changing hands at $22.00 currently.
