SNEAK PEEK
- Trump’s crypto portfolio exceeded $25 million after the meme coin airdrop, with TROG holdings doubling to $14 million.
- Inspired by meme culture and Trump branding, TROG’s value rises rapidly, posing liquidity challenges for Trump’s holdings.
- The memecoin surge underscores the evolving crypto landscape, raising questions about the sustainability of meme-based cryptocurrencies like TROG.
Former US President Donald Trump’s cryptocurrency portfolio has witnessed a significant surge, surpassing $25 million following a recent airdrop of a new memecoin. The crypto intelligence platform Arkham revealed the dramatic increase in Trump’s crypto wealth.
According to their findings, Trump’s holdings in the newly airdropped memecoin have doubled to over $20 million, primarily due to the developer team’s recent distribution of half of the total supply of the memecoin to Trump’s wallet.
The memecoin in question, TROG, capitalizes on the trend of frog-themed cryptocurrencies, such as PEPE, intertwined with elements inspired by Trump’s political branding. TROG’s creators describe it as a blend of meme culture and financial strategy to leverage the crypto market’s humor and investment potential.
The Genesis of TROG and Trump’s Role
The inception of TROG can be traced back to internet meme culture, particularly a photoshopped meme featuring Donald Trump with a green frog painted over his mouth and chin.
This meme gained traction when artist Mike Mitchell shared altered photographs of Trump in May 2017, leading to widespread circulation on social media platforms and coverage by various news outlets. TROG’s tokenomics indicate that Trump holds precisely 50% of the total supply, amounting to 210.34 billion TROG tokens.
Implications of Trump’s Memecoin Holdings
Despite the substantial nominal value of Trump’s holdings in TROG and another memecoin named TRUMP, questions arise regarding the practical implications of liquidating such a significant amount of these tokens at market value. With Trump possessing such a large portion of the supply, it may prove challenging for him to sell it for market value, especially considering the potential impact on the token’s price and liquidity.
