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Within just over a day after its launch, the Trump-backed and endorsed meme coin has already created numerous success stories of investors getting in at the right time and getting out.the launch of the OFFICIAL TRUMP meme coin and invited his millions of followers and supporters to join his community.
Despite the controversial launch and fears about a potential hack or a scam, the token became an overnight sensation. Its price is now worth $40, while its market capitalization has soared past $8 billion, making it the third-largest meme coin, sitting behind only DOGE and SHIB.
OFFICIAL TRUMP’s launch was a highly successful and impressive story. However, not all meme coins have the same spectacular path. There are thousands of such tokens released on a daily basis, and most turn into quick rug pulls, leaving investors with empty hands. As such, traders should be wary when dealing with meme coins, even if they are launched by the upcoming US president.
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