Trump-Tagged Wallet Holds Over $1M in TRUMP Meme Coin

• TRUMP Meme Token Investment in Trump-Labeled Wallet Now Valued Over $1 Million
• TRUMP Token Distribution and Marketing Tactics
• Impact of Trump's Recent Primaries Victory on Token Prices
• Trump-Themed Meme Tokens Across Different Blockchains
• Trump's Crypto Wallet's Valuation Increase
• Peak Wallet Value and Recent Ether Transfer

TRUMP Meme Token Investment in Trump-Labeled Wallet Now Valued Over $1 Million

According to data from Arkham, a meme token named TRUMP, initially sent to a Donald Trump-associated crypto wallet for just a few thousand dollars, has now escalated to a value exceeding $1 million. The TRUMP token's issuance bears no direct association with the ex-President of the U.S., but some speculators are leveraging these tokens as a wager on his ongoing presidential campaign.

TRUMP Token Distribution and Marketing Tactics

Between August and October 2023, the wallet associated with Trump initially received $7,100 of TRUMP from the coin's developers. The tokens were issued in August. Distributing tokens to a well-known entity's wallet is occasionally employed as a promotional technique by meme coin creators, as it has the potential to draw attention and stimulate purchase interest.

Impact of Trump's Recent Primaries Victory on Token Prices

For months following their issuance, prices remained relatively constant. Nevertheless, Trump's recent victories in the primaries have reestablished him as a contender for the 2024 Presidential elections, which has resulted in these speculative tokens surging from 19 cents in November to over $2 on Wednesday. The tokens boasted a market capitalization exceeding $85 million on Wednesday, as indicated by data.

Trump-Themed Meme Tokens Across Different Blockchains

There are a multitude of Trump-themed meme tokens available on different blockchains. However, only one of these token sets has managed to accumulate a significant community.

Trump's Crypto Wallet's Valuation Increase

The value of the Trump-associated wallet has escalated to $2.5 million. It currently holds $750,000 each in ether (ETH) and wrapped ether (WETH), plus minuscule amounts of several other tokens, most of which were likely sent to the wallet without solicitation.

Peak Wallet Value and Recent Ether Transfer

The wallet's value peaked at over $4 million. In December, a $2.5 million ether tranche was shifted to the cryptocurrency exchange, Coinbase (COIN). This was solely generated from royalty payments from the official Trump NFT collection.

Edited by Jonathan Stoker