The meme coin world witnessed a seismic shift over the weekend as TRUMP Coin skyrocketed past SHIB and PEPE in market capitalization, becoming the second-largest meme coin behind Dogecoin (DOGE).
As of January 19, 2025, TRUMP Coin’s market cap reached approximately $13 billion, according to CoinMarketCap (CMC) and CoinGecko (CG). This meteoric rise occurred in just 36 hours, sparking widespread discussion among traders and investors about whether TRUMP Coin could eventually challenge DOGE’s dominance.
Launched on Friday, January 17, 2025, TRUMP Coin made an immediate splash in the crypto space. Its value surged to over $60 per token within 48 hours of release, with over $11 billion in trading volume recorded on its first day.
The token’s rapid ascent is fueled by TRUMP’s public image and the novelty of being the first meme coin launched by a sitting U.S. president. This combination has drawn significant liquidity and attention from the global crypto community.
TRUMP Coin’s launch has also boosted Solana (SOL), the blockchain hosting the token. On January 19, Solana’s price hit an all-time high of $280, with much of the rally attributed to TRUMP Coin’s success.
The cross-pollination of growth between TRUMP Coin and Solana is notable, with the meme coin’s popularity driving higher activity and confidence in Solana’s ecosystem.
TRUMP Coin’s rise has disrupted the longstanding hierarchy within the meme coin sector, dethroning SHIB and PEPE from their positions.
Despite TRUMP Coin’s rapid ascent, Dogecoin (DOGE) remains the undisputed leader of the meme coin market with a market cap of over $54 billion. As of January 19, DOGE was trading at $0.36, down 7.7% over 24 hours.
DOGE continues to benefit from strong whale accumulation, with over 200 million tokens acquired within 48 hours. Its enduring popularity, celebrity endorsements, and viral campaigns have cemented DOGE’s position as the dominant meme coin.
TRUMP Coin’s emergence underscores the growing influence of political and cultural figures in the cryptocurrency space. While its rise has been remarkable, the larger meme coin market remains competitive, with DOGE maintaining its significant lead.
As of now, the total cryptocurrency market cap stands at $3.59 trillion, reflecting a stable overall market despite fluctuations in individual assets. Whether TRUMP Coin can sustain its momentum and challenge DOGE remains to be seen, but its impact on the meme coin landscape is undeniable.
January 2025, Cryptoniteuae