Trump's $TRUMP Memecoin Is Not Really Worth $75 Billion Right Now

President-elect Donald Trump launched a memecoin on Friday that continued its ascent to a $75 billion* market cap on Saturday. (The fully diluted market cap should be taken with a massive grain of salt, which we'll get into.)

An post from President Trump's Truth Social account and a tweet from his verified X account announced $TRUMP late Friday night. An hour later it was trading with a market cap above $7 billion, and crossed the $70-billion* mark on Sunday. And as I noted in a now viral tweet that both President-elect Trump and his son Eric Trump re-tweeted, it certainly felt like some of the launch was intentionally planned around the black-tie Crypto Ball event that attracted top industry players.

As the token has been added to US crypto trading platforms, including Kraken on Saturday, $TRUMP has continued to surge. The thing is though, only 20% of the token is actually being released in the first three months — 10% for liquidity and 10% for the public, according to the project's site. That would mean about 80% is still locked, so the fully-diluted numbers that put its market cap at $75 billion aren't entirely realistic.

In fact, if you think about it, saying $TRUMP has a market cap of $75 billion would be as inaccurate as saying FTX's FTT token was really worth what Sam Bankman-Fried was saying it was worth before the token's collapse. Moving forward, Coinage will be using the market cap numbers tied to the current float of the tokens, which would indicate a current market cap of about $13 billion — which is still staggering for a token just launched on Friday.

Nonetheless, despite the debate that the Trump memecoin launch has triggered, the overall takeaway seems to be positive. According to one X poll we are running, more people seem to be bullish about the launch than bearish. What say you? Mint a Coinage NFT to have your voice heard and join our Telegram group to co-own and steer the most important crypto media DAO in Web3.

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