'%20x='0'%20y='0'%20height='100%25'%20width='100%25'%20%0A%20%20%20%20%20%20%20%20%20%20xlink%3Ahref='data:image/jpg;base64,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'%3E%3C/image%3E%3C/svg%3E)
Incoming President Donald Trump launched a Trump meme coin named "$TRUMP", that he advertised on his social media accounts on Friday, January 17, 2025. The news came just two days before his inauguration ceremony on January 20, 2025.
The Cryptocurrency market too was filled with chaos after the release. According to reports by The Crypto Times, a trader had a sudden raise of about $20 million within the first hour since the announcement was made by the incoming president. As per Crypto Briefing, the meme coin reached a market cap of $8 billion within two hours of its release.
Meanwhile, the meme coin launch sparked massive reactions online. Here are some popular responses found on X, formerly known as Twitter. Several platform users claimed there would be a "massive rug pull" and authenticity concerns arose too. A user (@PikaPikaLore) wrote on the platform:
"$Trump coin about to be the biggest rug if y'all don't get out!"
Another user tweeted:
"We are about to see the biggest rug pull in history 😳."
"We're about to witness the biggest rug in history aren’t we?" wondered another one.
"Either this is the greatest cyber heist of all time, or this is legitimate," added a netizen.
Several other netizens took to X to express their opinions. Many even questioned if the incoming president's social media accounts were hacked. A user asked:
"Did he get hacked?"
"Trump launched a meme coin and didn’t use his mugshot. Shame," mentioned a netizen.
"Instead of lowering prices or ending war in Ukraine, Trump is selling 'meme coins' right before the inauguration," added a tweet.
Concerns about Donald Trump's social media accounts getting hacked have surfaced on the internet
Several netizens and people from the Cryptocurrency market expressed confusion when the news about the meme coin was dropped. The concerns arose even more amidst frequent cases of hacking on social media.
The reason behind netizens considering that the incoming president's account got hacked, was his announcement about Penny Schwinn. Shortly after announcing the launch of his meme coin, he made an announcement that read:
"I am pleased to announce that Peggy Schwinn will be the next United States Deputy Secretary of Education..."
As seen above, the incoming president misspelled Penny as Peggy and the error did not go unnoticed amongst online users. Also, this created more concerns about the security of his social media page and the latest meme coin.
As per reports by Decrypt, the official website of the meme coin resembled the ones that sold and promoted his previous NFT collections. The meme website has further confirmed that the coin's release was not a part of any political campaign.
No response on the same has been received from the Trump-Vance transition team as of now, as per Rolling Stone. While many users seemed quite excited with the release, others suggested being more cautious dealing with the recently released meme coin by the incoming president.
