The memecoin category has seen a staggering surge in the number of launched tokens a few weeks or days before and after the launch of one of the most trending memecoin $TRUMP in the wider cryptocurrency market, soon after its launch its price touched a new milestone and market crossed $71 billion in just a few hours after the launch.
According to a report by Blockaid, the total number of memecoins in the market pretending to be the original $TRUMP issued by the Donald Trump organization was 3,200 before the launch of the original token, but on the day of launch the total number of projects 6,800, which is a clear 206 percent in the launch of fake token to mislead memecoins enthusiasts.
The report notes that the scammers have wasted no time in designing a token using the name of Trump to leverage the frenzy resulting in severe losses to the investors.
At the time of the launch of Official Trump, Blockaid helped many investors to avoid getting victimized by informing them about the authentic token officially inaugurated by the 47th president of the United States.
The research and deployment lead at Blockaid, Oz Tamir argued, “EVM networks like Ethereum have consistently been a hotspot for scams as well, including both fake tokens and malicious dApps targeting EVM users.
Official Trump price update
According to data, CoinMarketCap Official Trump has been trading at $29.26 with an intraday surge of 13.28 percent, yet in the weekly frame, the price saw an addition of 17.58 percent.
At the same time, the market capitalization of Official Trump was $5.86 billion with an intraday surge of 13.56 percent and its trading volume reached $3.28 billion with a surge of 9.11 percent.
It is worth noting soon after the launch of the official $TRUMP its prices grew to new heights and documented data notes that its recorded all-time high is $75.35. The registered all-time low of $TRUMP is identified as $6.24 on January 18, 2025.
Market experts widely argue that in the near future the $TRUMP token is expected to see major nourishment as since July of last year Donald has shown a pro stance for the cryptocurrency market and especially for Bitcoin and memecoins.
Crypto market price updates
Until publishing the crypto market capitalization was $3.48 trillion with a growth of 3.23 percent and the trading volume surged to $174 billion adding 37.75 percent. Similarly, Bitcoin has added 5.04 percent reaching $103,305.
BTC prices seem to be tumbling in the range between $97k to $104k, yet its dominance has reached 58.02 percent with Ethereum dominating 11 percent and other listed digital assets holding the remaining 30 percent.
The intraday gainers’ list has been ruled by Jupiter with a surge of 17.88 percent reaching $1.21 followed by Hyperliquid, Official TRUMP, Gate token, Kucoin, and several others. The weekly looser list has been ruled by Fartcoin closely followed by Pudgy Penguine, Dogwifhat, and Pepe.
