Donald Trump Holds $1 Million In TRUMP Meme Coin After 15,000% Gain

Former US President Donald Trump now holds $1 million of the MAGA (TRUMP) meme coin after a staggering 15,000% price gain.

The Republican presidential aspirant received $7.1K worth of TRUMP meme coin from the developers last year. On August 19, he received the first batch of 469,000 TRUMP worth $5,600 at the time. In October, he received additional tokens valued at $1,500.

According to Arkham Intelligence, the value of his holdings has since surged to a value surpassing $1 million. Developers sometimes send free tokens to the addresses of high-profile names as a way to promote the coin and generate a buzz around it.

Donald Trump makes $1M on TRUMP Memecoin

Donald Trump’s holdings of TRUMP have just passed $1M.

He originally received $7.1K of TRUMP from the TRUMP team between August-October 2023, which is now worth over $1.07M.

That’s 150x. pic.twitter.com/u1Em8xReUl

— Arkham (@ArkhamIntel) January 22, 2024

TRUMP was trading at $1.83 at 05:14 EST, according to CoinGecko, bringing his holdings to $1.06 million.

A Purely Speculative Memecoin

The TRUMP meme coin is not affiliated with the former US President, but its performance is tied mainly to the strides Trump is making in his presidential campaign.

For months after its launch, the value of TRUMP remained largely unchanged. However, Trump’s recent win in the primaries and endorsement by Vivek Ramaswamy is moving the meme coin’s price.

TRUMP hit an all-time high of over $2 on January 23. Its market cap has grown to over $86 million.

Donald Trump Foray into Crypto

Trump’s crypto wallet has $2.53 million worth of crypto. His second-largest holding after TRUMP is Ether, worth $760K. He also holds $741K in Wrapped Ether (WETH) and $3.5K worth of MATIC.

Trump has launched several non-fungible tokens (NFT) collections. He is set to expand his NFT offerings by releasing a new collection using the Ordinals Protocol on the Bitcoin network.

TRUMP DIGITAL TRADING CARDS on BITCOIN ORDINALS ???? The FIRST EVER Trump Trading Cards on Bitcoin. Read this thread ⬇️

— CollectTrumpCards (@CollectTrump) January 18, 2024

Despite dipping his toes into crypto, Trump has previously declared an anti-crypto stance, saying he is not a fan of cryptocurrencies.

Also Read