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Within just a day after its launch, Official Trump has become the talk of the town, with its price skyrocketing by triple digits.
The asset has now received backing from two of the largest cryptocurrency exchanges amid its mindblowing rally and spectacular trading volumes.
Binance, Coinbase Join the Pack
It’s not every day that you see the release of a meme coin by a former and upcoming US president. But we do live in wild times, and that’s what happened on Friday evening when the president-elect, who will return to office on January 20, announced the launch of such a token dubbed Official Trump.
Within a day or so, the asset exploded in value and is currently the 23rd-largest, according to CoinGecko, and 21st-biggest on CoinMarketCap. Despite the discrepancies, both platforms agree that its price is well above $43, and its market cap is somewhere around $9 billion, creating numerous success stories in the meantime.
Moreover, the trading volumes went through the roof (over $11 billion within a 24-hour period). This has turned many leading exchanges toward the TRUMP token. Binance and Coinbase were the latest (and among the biggest) to join the craze.
The largest US-based crypto exchange said it had added TRUMP to its roadmap, which typically means that it will be listed for trading soon.
Binance noted that trading for TRUMP will begin on January 19 at 8:30 UTC, and the first pairs will be against the two biggest stablecoins, USDC and USDT. Withdrawals will be available from January 20 at the same time.
Above PEPE
After speculating yesterday whether TRUMP can become the largest meme coin by market cap, the asset, which was in fourth place at that time, has climbed a spot and is now above PEPE.
The frog-based meme token peaked at around $0.000021 yesterday, but when the TRUMP mania went wild, it started to lose value rapidly. It now sits below $0.000018, down by 15% within a day. Its market cap has dropped to $7.5 billion on CG, well below TRUMP’s $9 billion.
Next on Official Trump’s path toward the number one spot is Shiba Inu, which is also down daily. Its market cap stands close to $13 billion, which seems doable given the massive rally that transpired since TRUMP’s launch.
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