While the TRUMP memecoin has stolen headlines since its launch late Friday, the Donald Trump NFT collection also quietly recorded a 400% intraday increase on Saturday.
Crypto stakeholders expected regulatory clarity and more friendliness towards the sector. No one saw him launch a memecoin days before his inauguration.
According to reports, the incoming POTUS has not informed those close to him about his plans to launch a memecoin. The token launch went live hours before the inaugural crypto ball hosted by Trump White House czar David Sacks.
Analysts calm down talk of reward for NFT holders
To grow speculation that holders of Trump’s NFT cards could get allocations of the memecoin caused the collection’s floor price to rise more than 400% today. The floor price rose to $1,000, making the trading cards one of the best-performing NFT projects in recent times.
Trump NFT trading card trading activity rose along with memecoins. Source: MagicEden
The NFTs were sold in multiple numbers, with an average price of $99 per card. With today’s rally, some holders are up as much as 13x their purchase price on the NFTs.
Investors active in the space were quick to highlight that the same company that helped launch the NFT collections, CIC Digital, is also involved in the TRUMP memecoin.
However, it appears that NFT holders will not receive automatic allocations or airdrops as described on the gettrumpmemes.com website.
The term “meme cards” that led holders to speculate about a possible allocation appears to be a different term project used to describe the tokens, not the previously saved NFT cards.
UPDATE: Apparently they call the $TRUMP themselves “meme cards”, which is also stated in their terms and conditions.
This makes an airdrop highly unlikely, as “card allocation” in this context actually means “tokenomics”, not “allocation for trading card NFTs” pic.twitter.com/B2rQmIYSWD
— wale.moca
(@waleswoosh) January 18, 2025
The collection is traded on Polygon and has seen a 24-hour trading volume of $2,380,000 ($1.1 million).
The project has not yet made any announcements or acknowledged any talk of NFT holders receiving token allocations or airdrops.
TRUMP Token Continues to Divide Opinions
Like Donald Trump, his memecoin is generating mixed reactions on both sides of the spectrum. On the one hand, some crypto citizens are excited about the POTUS interacting with crypto at this level. However, the other camp is skeptical about the long-term effect of involvement in the crypto community. Many around him have already made money thanks to the series of launches associated with his name.
World Liberty Finance, the DeFi project linked to the Trump family, is also being closely watched as some in the crypto space close the trades with projects like approvals.
Another issue that investors have noticed is that Trump Group affiliates CIC Digital LLC and Fighter Fight LLC control 80% of the token’s total supply. However, these tokens are subject to a three-year unlock plan, which helps allay fears of a sudden dump on the market.
However, there are now claims that the launch team has sold up to $500 million worth of memecoin already.
Yet the memecoin continues to rise to new levels. It has already gained more than $5 billion in market capitalization and almost $13 billion in trading volume to trade for around $29.