While the TRUMP memecoin has stolen the headline since it launched late on Friday, the Donald Trump NFT collection also quietly posted a 400% surge throughout the day on Saturday.
Crypto stakeholders were expecting regulatory clarity and more friendliness toward the industry. Nobody saw him launching a memecoin days before his inauguration.
According to reports, the incoming POTUS did not inform those in his circle of his plans to launch a memecoin. The token launch went live hours before the inaugural crypto ball hosted by Trump’s White House Czar, David Sacks.
Analysts calm talks of reward for NFT holders
Growing speculation that holders of Trump’s NFT cards could get allocations of the memecoin caused the collection’s floor price to surge over 400% today. The floor price surged as high as $1,000, making the trading cards one of the best-performing NFT projects in recent times.
Trading activity of Trump NFT trading cards surged along with the memecoins. Source: MagicEden
The NFTs were sold in multiple issues, with an average price of $99 per card. With today’s rally, some holders are up by as much as 13x their buying price on the NFTs.
Investors active in the space quickly highlighted that the same company that helped launch the NFT collections, CIC Digital, is also involved with the TRUMP memecoin.
However, it appears that NFT holders will not receive any automatic allocations or airdrops as outlined on the gettrumpmemes.com website.
The “meme cards” term that led holders to speculate about a potential allocation appears to be another term the project used to describe its tokens, not the previously held NFT cards.
The collection trades on Polygon and has seen a 24-hour trading volume of 2,380,000 $POL ($1.1 million).
The project has yet to make any announcements or acknowledge any chatter about NFT holders receiving token allocations or airdrops.
TRUMP token continues to divide opinions
Like Donald Trump, his memecoin evokes mixed reactions on opposite ends of the spectrum. On one hand, some crypto citizens are excited by the POTUS interacting with crypto at this level. However, the other camp is skeptical about the long-term effect of involvement with the crypto community. Already, many in his circle have made bank thanks to the series of launches linked to his name.
World Liberty Finance , the DeFi project linked to the Trump family is also closely tracked as some in the crypto space consider its transactions with projects as endorsements.
Another issue investors have noted is that Trump Group affiliates CIC Digital LLC and Fighter Fight LLC hold 80% of the token’s total supply. However, those tokens are subject to a 3-year unlocking plan, which helps to allay fears of a sudden dump on the market.
However, there are now claims the launch team has sold up to $500 million worth of the memecoin already.
Still, the memecoin continues to soar to new levels. It has already gained over $5 billion in market cap and almost $13 billion in trading volume to trade for about $29.
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