Trump Coins Stir The Market Ahead Of Inauguration Day

Several ‘Trump Coins’ are being launched on Pump.fun ahead of the US presidential inauguration next week, driving speculative trading.

Donald Trump, the US president-elect, will officially assume office on 20 January. As the date approaches, the crypto market has shown increased interest in meme coins linked to Trump, reflecting investor anticipation.

These so-called ‘Trump Coins’ are attracting a large volume of speculative trading, and more Trump-themed meme coins are popping up across decentralized exchanges as we get closer to the inauguration day.

Earlier yesterday, two meme coins, literally called ‘TRUMPCOIN,’ launched on Pump.fun and gained over $200,000 in market cap in just hours. This is an indication that meme coin trades are likely to go up in the coming week. It’s also not surprising given the fact that the new president also meme coins in his personal crypto portofolio.

Below is a closer look at three of the most notable Trump-related meme coins that have gained attention in the market.

Trump Coin on Pump.fun 

Users are taking to the popular Solana-based meme coin launchpad to create tokens themed around the new president. Among several newly launched tokens on the platform, TRUMPCOIN gained the most attention, quickly ramping up more than $132,000 market cap.

Another similarly named token gained a $45,000 market cap within three hours of trading. It seems that anonymous creators are trying to profit as much as possible from the hype. X (formerly Twitter) is already flooded with posts about users promoting different versions of TRUMPCOIN, with almost every token launched on Solana through Pump.fun.

MAGA (TRUMP)

The MAGA coin, also known as TRUMP, has drawn significant interest, though recent performance has been mixed. After showing impressive gains earlier, TRUMP has faced downward pressure, recording losses over the past week.

Since the start of the year, TRUMP has risen by 84%, and it gained nearly 10% in the last 24 hours alone. If market sentiment turns bullish ahead of the inauguration, the coin could rebound, potentially breaking past $3.15 and aiming for $4.44. This would boost investor optimism.

Looks like the Trump-based meme coin could see increased trading up to 20 January, but larger liquidations are likely after the inauguration.

Trog (TROG)

TROG, another Trump-themed meme coin, has recently captured attention with remarkable gains. It has surged by 81% over the past week, though a 25% dip in the last 24 hours highlights the volatility in the meme coin market.

Currently, TROG is maintaining support at $0.00004379. Holding this level could pave the way for a recovery, with the coin potentially climbing to $0.00007406. Such a move would renew confidence among investors and extend the strong performance seen earlier.

However, failing to sustain the critical support level could result in a sharp decline. If TROG falls to $0.00001669, it would negate the recent bullish outlook and likely dampen enthusiasm for the coin.

Final thoughts

It’s critical to remember that these meme coins are largely seeing a positive price rally due to the speculation and hype surrounding the presidential inauguration event. Trading these meme coins involves significant risk due to their extreme volatility and speculative nature. Prices can swing dramatically within short periods, driven by hype rather than fundamentals.

Investors should exercise caution, thoroughly research market conditions, and only invest amounts they are prepared to lose, as these tokens are highly susceptible to rapid losses if market sentiment shifts.