How did the community react to Trump’s memecoin launch? The most obvious answer to this question would be the enormous bullish rally that the price of the memecoin Official Trump (TRUMP), issued by the new US president-elect Donald Trump on January 17, 2025. However, not everyone agrees with the launch of the memecoin.
The rapid insertion of users and investors caused TRUMP to rise more than 200% in price in just 24 hours and become the quarter memecoin largest market capitalizationas reported by CriptoNoticias.
Regardless of what happened in the market, many users, investors and participants in the cryptocurrency ecosystem expressed themselves.
Such is the case of Justin Sun, founder of the Tron (TRX) network, manifested your enthusiasm after the launch of the TRUMP memecoin assuring that “cryptocurrencies have just entered a new moment, we have entered the era of God style.”
From X’s account, the Solana network (SOL), the network where TRUMP was based, also issued a series of publications related to the memecoin of Donald Trump. Among themUS flags, messages such as “great things are happening” and “never fall asleep again”, alluding to the fact that TRUMP was released during midnight on Friday, January 17 and many users would have missed the possibility of entering early .
Eric Trump, son of the president-elect, expressed himself as follows:
Along these same lines, the user Cryptoinsightuk in opined that “The United States is about to dive headlong into cryptocurrencies. “The financial world is about to go crazy.”
At the same time, the trader under the pseudonym ManelRedPill in X he stated that “Trump is a money-making genius” and closed his comment with a question:
“Is the biggest Altseason in history coming? Retail (retail investors) will begin to enter little by little and explosive increases will come throughout the Crypto sector.”
ManelRedPill in X.
In this sense, another user of the X platform referred to the rapid rise in the price of $TRUMP and sentenced that if you have bought in time this memecoin investors “they would have outperformed the S&P 500 since 1980”.
Finally, investor Anthony Pompliano, stated that “(TRUMP’s) market capitalization is almost $8 billion in less than 3 hours, which almost doubles Trump’s net worth. “The financial markets are not prepared for what is to come, fasten your seatbelts.”
Despite TRUMP’s bullish move, some users were skeptical
While some expressed excitement about the investment opportunity, others doubted the legitimacy of the project.
Given the number of users who expressed themselves against TRUMP’s veracity, from the exchange decentralized (DEX) Jupiter and Meteora confirmed that this memecoin It belonged to the new president-elect of the United States. and that his X account had not been compromised.
For example, the account with the name “Jens Illgner – Road To Glory Jil” replied to Donald Trump’s publication in which he communicated his memecoin raising the possibility that the new electro president’s X account had been hacked.
His basis was based on the fact that 80% of TRUMP’s currency remained in the hands of a single walletwhich could belong to Donald Trump himself or those close to him, to benefit from the rise in the price of the token.
This user closed their post concluding that this “could be a big theft.” Next, another trader mentioned that “we don’t know if it’s real, but having an account with 80% is already dangerous.” This is because an account with such a percentage of the supply could sell a large amount and strongly affect the price of the asset, causing other investors to lose money.
Like “Jens Illgner,” other members of the cryptocurrency community expressed their doubts about the TRUMP project. Among them, a user in shitcoins with a 10% of the circulation destined for the public”.
The problem with only 10% of the supply having been issued is that the current price the asset reaches will be diluted as more tokens enter circulation.
Continuing with the skepticism raised by some users, “Dan Rysk” on x made clear his position:
“Honestly, if it wasn’t Trump, we’d mark it as a scam. Imagine building an entire industry around trust minimization, only to see this happen.”
User in X.
Another user even regretted of his vote: “Actually, I regret voting for you after this shit you’ve done. What a terrible precedent you are setting.”
Analyst JaguarAnalytics reflected: “In 50 years, we’ve gone from backing the nation’s currency with gold reserves to the president of the United States doing “buy my shitcoin” marketing. I don’t even know what kind of laissez-faire this is. Conducive to corruption, money laundering. Equalize all bad behaviors. Wild.”