Presidential Coin Annivesary, TRUMP Goes from $200 Billion Myth in 8-Hour Pump to 90% Value Loss in Obscurity

BlockBeats News, January 18th. Today last year at 10 a.m. (UTC+8), Trump announced the launch of his personal Meme coin TRUMP on Truth Social, with an initial market cap of $1 billion, triggering a crypto market frenzy. The community was divided on whether Trump's account was hacked, but within half an hour, TRUMP's market cap surged to $1.5 billion, with a trading volume of $123 million. At 10:38 a.m., TRUMP experienced a short but sharp drop, plummeting over 50%, with a market cap briefly touching $1.3 billion.

At 10:44 a.m., the market saw a turning point when Trump repeatedly tweeted with his X account about the "official launch of the Meme coin TRUMP," dispelling the community's doubts about Trump's account being hacked. Subsequently, TRUMP's market cap skyrocketed, reaching $4 billion in Fully Diluted Valuation (FDV) by 11:22 a.m. At 11:29 a.m., TRUMP's FDV surpassed $5 billion, at 1:07 p.m. (3 hours post-launch) it exceeded $10 billion, at 1:59 p.m. (4 hours post-launch) FDV hit $13 billion, and at 2:13 p.m., FDV surpassed $16 billion. Due to the intense market activity, Binance announced a suspension of SOL withdrawals.

As the clock struck 6:11 p.m., TRUMP achieved a milestone by reaching a $20 billion FDV within 8 hours, securing fourth place in the Meme coin market cap ranking, trailing only DOGE, SHIB, and PEPE. The next day, TRUMP reached its peak price of around $77, corresponding to a $770 billion fully diluted market cap, with a circulating market cap of approximately $154 billion on that day. Today, TRUMP is trading at $5.3, with a market cap of only $24.5 billion, a circulating market cap of $5.3 billion, marking a more than 90% drop from its peak total market cap.

Trump's choice to issue a personal Meme token on the eve of his inauguration signals the deep involvement of political figures in the crypto space. The "President's Coin" ushered in unprecedented hype in the market but also triggered the largest-ever conflict of interest and moral condemnation. Behind the tantalizing myth of sudden wealth, millions of retail investors paid the price as the craze subsided. The crypto market is at a crossroads: is hype king, or should it adhere to the vision of decentralization, aiming to disrupt traditional finance? What has Trump truly changed, bringing forth new values, disagreements, and reflections in the crypto space.

For more retrospectives and analysis, please refer to BlockBeats' in-depth article:

"Trump's Coin Launch Makes Chinese Earn Billions, Divides U.S. Crypto Enthusiasts"

"2 Days Before Taking Office, Trump Family Absconded with $65 Billion from the Crypto Community"

"Did TRUMP's Attraction of Outsiders to Crypto Speculation Pay Off?"