President-elect Donald Trump’s new crypto memecoin, called Trump, saw its price skyrocket to over $70 in just minutes after its launch, according to a Bloomberg News analysis of millions of transactions. The token features an image of Trump from a failed assassination attempt and boasts an image of him raising his fist.
The frenzied buying was largely driven by speculators on the platform Meteora, with thousands piling into the new token in just minutes. However, 21 “whales” who purchased at least 500,000 tokens per associated crypto wallet in the first hour bought and sold millions of tokens as the price skyrocketed.
These whales generated over $214 million in gains during the token’s first 48 hours in existence, with a single cluster of related wallets making a whopping $170 million. Memecoins are known for having little intrinsic value beyond potential profits, but Trump’s token has proven to be an exception – at least initially.
Trump-linked entities own 80% of the supply, which will be unlocked over three years. This could put pressure on the memecoin’s price in the future if they start selling. The two entities have generated millions of dollars from licensing Trump’s image on digital collectibles.
The biggest winners of all were a group of wallets known as Cluster A, who showed an uncanny ability to time their trades and made over $170 million in profit. They appear to be sophisticated traders with automated trading set-ups that allowed them to buy new token launches early.
However, interest in the Trump token has waned since its launch, with the price falling more than 60% from its high. Despite this, nearly 700,000 wallets still hold the token and it ranks among the top 40 cryptocurrencies by market value.
Source: https://www.bloomberg.com/graphics/2025-trump-token-memecoin-crypto-finance