By Muhammad Razi 
The crypto industry is abuzz with speculation over posts from Donald Trump’s official social media accounts promoting a new Solana-based Trump memecoin. Many are questioning whether these posts are legitimate or the result of a hack just days before Trump’s presidential inauguration on Jan. 20
Trump’s Social Media Sparks Crypto Debate
In a Jan. 18 post on platform X, Trump wrote:
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR TRUMP NOW.”
The same post appeared on his Truth Social account, promoting a token dubbed the Official Trump memecoin. According to Moonshot, a memecoin trading platform, TRUMP was trading at $8.41 just three hours after its launch, with a market cap of $8.3 billion.
This unexpected announcement has left the crypto community split. Some believe it might signal a new trend in crypto adoption, while others suspect Trump’s accounts could have been hacked.
Was Trump’s Account Hacked?
The uncertainty surrounding the posts has fueled intense debate. Max Schwartman, founder and CEO of BecauseBitcoin, speculated that if the posts were a result of hacking, it could significantly dampen Trump’s pro-crypto stance as he takes office.
On the other hand, if the posts are genuine, Schwartman believes it could lead to unprecedented market activity, stating, “Things are about to get absolutely out of control this quarter.”
Crypto commentator JRNY Crypto questioned the lack of verification from Trump’s advisors, noting that a social media post alone isn’t sufficient to confirm the legitimacy of such a project.
Meanwhile, trader Edward Morra predicted the situation could end poorly, potentially triggering a broader market sell-off in the lead-up to Trump’s inauguration.
Skepticism Among Analysts and Traders
Despite the buzz, some in the crypto community remain cautious. Crypto commentator Daniel Got Hits shared with his 61,900 followers that while his instincts suggest the posts might be authentic, he wouldn’t risk engaging with the token, saying, “I’m not touching this thing with a ten-foot pole.”
Crypto analyst Will Clemente expressed disbelief at the market’s reaction, pointing out the unusual activity on Solana’s network:
“I’ve never seen anything like this Solana’s price is ripping while everything on-chain is nuking as people panic sell to FOMO into Trump’s memecoin.”
Solana Surges Amid TRUMP Memecoin Hype
Since the TRUMP memecoin’s launch, Solana’s price has jumped 4.12%, trading at $228 at the time of publication. This surge highlights the memecoin’s significant impact on the market, even amidst skepticism.
As speculation mounts, it’s worth noting that Trump is reportedly preparing to sign an executive order shortly after his inauguration, designating cryptocurrency as a national priority.
End Note
The promotion of the TRUMP memecoin has introduced a whirlwind of speculation and uncertainty to the crypto market. Whether this is a legitimate move by Trump or a case of account compromise, its ripple effects are already being felt across the industry. As inauguration day approaches, all eyes will be on Trump and his next steps regarding cryptocurrency policy.