"Did he get hacked?" — Internet reacts as Trump tweets about his official meme, urges people to join his community

President-elect Donald Trump is feeding fodder to the tabloids with the launch of his very own Solana meme coin named $TRUMP. He took to X on January 18 to call on netizens to join his community, and the move comes just three days ahead of him being sworn in for his second term in office.

Read his statement on X below:

"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. Go to http://gettrumpmemes.com — Have Fun!"

The statement has since drawn varied reactions, with some users even positing that the President-elect's account may have been compromised. Here's what one prominent X user, @rawsalerts, said:

"did he get hacked?"

Scores echoed the sentiments, questioning whether this new meme coin was the real deal or a bogus one:

"This must be a scam. Please don’t be real," one user hoped.

"I think he’ll come forward and claim it is a scam, dont invest. But in reality, it is a scam—his scam—that he and his buddies pulled off to pocket millions," someone else opined.

"Instead of lowering prices or ending war in Ukraine, Trump is selling “meme coins” right before the inauguration. He doesn’t give a crap about our country. The world is laughing at us," one more chimed in.

The comments didn't end there, as the internet was visibly riddled with opinions:

"Did Donald Trump… The upcoming president of the United States… On the night of the inaugural crypto ball...Launch a meme coin…This is either the greatest hack of all time or it is only going to get so much more ridiculous this entire cycle. I have no idea what to believe anymore," someone shared.

"Nothing like going to bed early on a Friday and waking up at 4 am to see your “friends” all bought the new trump meme coin and retired and didn’t call you," another user jokingly shared.

"wait wtf???? theres no way this is real right lmfao," another echoed.

The masses online were ostensibly divided over the authenticity of the tweet, though several did point out the implications the coin has had on the cryptocurrency market just a few hours after it was released.

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All we know about Trump's endeavor into the world of cryptocurrency

Just a little under three hours since the meme coin was launched, its market cap skyrocketed to a staggering $8 billion. While trading volumes clocked in at $1 billion, the coin's value increased by a whopping 300% within minutes. Reportedly, within a couple of hours, the price of the meme coin can be placed at $7.1, a stark contrast to the initial $0.18.

The announcement was first made on the President-elect's platform, Truth Social, where he posted a similar message urging all his followers to join the community. Nonetheless, as of January 16, 2025, his crypto portfolio is valued at $15.8 million, with a growth of at least $1.3 million since January 16, 2024, Financial Express has reported.

As for the inspiration behind the meme coin, it is reportedly based on the assassination attempt on the president-elect's life in July 2024. At the time, his rallying cry was “Fight, Fight, Fight,” which he allegedly shouted upon getting shot at.

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Upon its initial token launch, 200 million coins were up for grabs, though there is a total supply of 1 billion. However, the remainder of these coins will gradually drop over the course of the next three years.