Summary
The meme token “TRUMP” sent to Donald Trump’s cryptocurrency wallet is now worth more than $1 million. The token was issued in August 2023 and Trump’s wallet received $7,100 worth of TRUMP from memecoin developers. The price of the token soared from 19 cents in November to more than $2 on January 24, as Trump recently won the primary and re-established himself as a likely candidate for the 2024 US presidential election. The token market capitalization reached more than $85 million on the 23rd. The amount held in Trump’s wallet soared to $2.5 million, with a peak of over $4 million.
Key Points
1. The meme token “TRUMP” sent to Donald Trump’s cryptocurrency wallet is now worth more than $1 million, according to data from blockchain analysis firm Arkham Intelligence.
2. The token was issued in August 2023, and Trump’s wallet received $7,100 worth of TRUMP from memecoin developers between August and October. Sending tokens to popular figures is sometimes used as a marketing strategy by meme coin developers.
3. The price of the TRUMP token has remained largely unchanged since its issuance, but it recently soared from 19 cents in November to over $2 as Trump re-established himself as a likely candidate for the 2024 US presidential election. The token’s market capitalization reached over $85 million.