This article discusses the controversy surrounding the launch of the Official Trump (TRUMP) meme coin on the Solana (SOL) blockchain by President-Elect Donald Trump. The announcement on January 17 caused speculation about a possible hack, but it was confirmed that Trump was endorsing the meme coin. Critics have raised concerns about the lack of real-world application for the token and questioned the ethics of launching it just before the inauguration. The launch saw the token's market cap reach $400 million within 15 minutes and Solana's native token, SOL, reached an all-time high. Despite the backlash, the TRUMP coin has seen significant adoption and its value has soared by over 12,000%, with successful traders making substantial profits. However, doubts remain about the token's future prospects, particularly with regards to the controlled ownership and manipulation of the market by the developers. Some analysts have expressed concern about the potential for a quick drop in value.



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