Donald Trump’s memecoin, TRUMP, has gained attention in the crypto world by offering loyal supporters an airdrop of free tokens. Those who have purchased Trump-branded merchandise—such as perfumes, sneakers, trading cards, or watches—can claim three TRUMP tokens, currently valued at around $50. However, the claim window closes on March 1, so fans must act fast.
Why This Airdrop Matters
This airdrop is a strategic move designed to solidify TRUMP’s position within the crypto ecosystem. By rewarding loyal supporters, the token aims to become not just a collectible but also a financial asset for Trump fans. The move could potentially boost adoption and attract fresh buyers, especially considering Trump-branded merchandise, like the Bitcoin Sneakers, have seen significant value appreciation. For instance, these limited-edition sneakers, initially priced at $500, later resold for as much as $2,500.
TRUMP’s Controversial Journey
Launched just days before Trump took office in 2017, TRUMP became the first memecoin tied to a sitting U.S. president. The token surged from just a few dollars at launch to an all-time high of $75, reaching a market cap of $13 billion. However, the recent downturn in the crypto market has caused TRUMP’s value to plummet by over 75%, highlighting the volatile nature of meme coins.
Lawmakers Slam Trump and Musk
The TRUMP memecoin has sparked controversy, with lawmakers like U.S. Representative Ayanna Pressley criticizing both Trump and Elon Musk for their roles in weakening consumer protections. Pressley accused Trump of promoting a token that quickly lost value, leaving small investors with significant losses. Critics also blamed Musk and his influence over Dogecoin for undermining consumer safeguards in the crypto industry.
While many Trump supporters are excited about the airdrop, crypto analyst Simon criticized it as one of the “stingiest” in crypto history. He pointed out that supporters who spent thousands on Trump’s NFTs only received $50 worth of TRUMP tokens, while those who bought the token on the open market got nothing. Some speculate that the airdrop is a damage control move after recent price declines.
Despite the broader crypto market downturn, TRUMP continues to attract attention. In the last 24 hours, the token has dropped 8%, but investors are keeping an eye on its next move, with speculation about its future still swirling.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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