TRUMP Coin Makes a Meteoric Rise, Cracking the Top 15 Cryptos Worldwide
In a move that’s been shaking up both the crypto and political worlds, the TRUMP memecoin has skyrocketed to an impressive $71 billion in fully diluted value (FDV) in less than 48 hours, pushing it to the 15th spot in the global cryptocurrency rankings. What started as just another memecoin has now captured the imagination of investors, with some even speculating that it could influence tax reforms—specifically when it comes to cryptocurrency taxes in the U.S.
TRUMP Coin: More Than Just a Meme?
Released just days before Donald Trump’s inauguration, the TRUMP token has taken the crypto world by storm. This Solana-based memecoin has already outpaced heavyweights like Pepe, Shiba Inu (SHIB), and Dogecoin, making waves with its astronomical rise. In just a couple of days, TRUMP has seen a surge of 610%, with the coin trading at around $68 at the time of writing. If you’ve been following the crypto scene, you’ve probably seen that the TRUMP coin is now sitting comfortably in the 15th spot among the world’s largest cryptocurrencies, and it’s not showing signs of slowing down.
Why the sudden boom? Well, according to traders, it’s a case of people selling their existing altcoins to grab some TRUMP, fueling its rapid price jump and siphoning liquidity from other tokens. In a wild twist, over 80% of the token’s supply is currently controlled by CIC Digital (a Trump Organization affiliate) and Fight Fight Fight, a co-owned entity. The catch? These holdings are locked for the next three years, meaning no sudden sales are coming to flood the market.
Crypto Tax Reforms? The Rumors Are Roaring
The buzz surrounding TRUMP’s success isn’t limited to just coin prices. Speculation is running wild that Trump’s growing involvement in the crypto space could lead to changes in the U.S. tax system—especially concerning crypto capital gains taxes. The prevailing theory? With such a large stake in the crypto market, Trump might push for tax cuts or even the elimination of crypto capital gains taxes altogether.
Currently, cryptocurrency in the U.S. is treated as property for tax purposes, meaning that any sale, trade, or transfer is subject to capital gains tax. Short-term capital gains (for assets held less than a year) are taxed anywhere from 10% to 37%, depending on income. Meanwhile, long-term gains (for assets held longer than a year) are taxed at 0% or 20%, depending on your tax bracket.
But could the TRUMP token’s meteoric rise and the political leverage behind it be enough to spark a change in those rules? Some believe it’s more than possible.
“Now that 80% of Trump’s wealth suddenly consists of crypto, you can expect an end to all federal income taxes on crypto sales within the year,” says Mike Alfred, a well-known crypto investor. Alfred’s theory is that Trump’s personal financial incentives could align with broader shifts in the way crypto is taxed—meaning big changes could be coming down the pipeline sooner than we think.
Others, like Caitlin Long, the CEO of Custodia Bank, see Trump’s increasing involvement in the space as a potential game-changer for U.S. tax policy. She tweeted: “Trump now has a real incentive to change crypto taxation in the U.S. A U.S. president-elect meme-coining during inauguration weekend was not on my bingo card.”
The Road Ahead: What’s Next for TRUMP Coin?
As TRUMP’s rise continues to steal the spotlight, the question on everyone’s mind is: Where does the token go from here? While it’s hard to predict whether it will maintain its momentum, one thing is clear: it has already made its mark. With TRUMP now among the top cryptocurrencies by market cap and with major players like Solana and others catching the tailwind, it’s clear that the world of memecoins is far from a passing trend.
For now, the token remains a hot topic of conversation in both crypto and political circles, with some seeing it as the catalyst for change. Whether TRUMP’s success will actually lead to major tax reforms remains to be seen, but the rising buzz is undeniably real.
What About You? Should We Be Holding Our TRUMP Coins?
As TRUMP continues to climb the ranks, and as speculation swirls about its potential to impact crypto tax policy, the big question for investors is whether to hold, buy, or sell. The combination of political speculation and market excitement has certainly put the token in the spotlight—but like any memecoin, it’s also worth remembering that the road to the top can be a wild ride.
So, are you all in on TRUMP? Or are you keeping a watchful eye on how the crypto tax saga unfolds? Whether you’re here for the memes, the profits, or the political drama, one thing’s for sure: the TRUMP token isn’t going anywhere just yet!
