Donald Trump’s memecoin holdings recently doubled to surpass the $20 million mark.
TROG developer team airdropped half of the token’s total supply to Trump.
Besides TROG, Trump holds TRUMP, ETH, WETH, MVP, and CONAN.
According to the blockchain analytics platform, Arkham Intelligence, Donald Trump’s memecoin holdings recently more than doubled to surpass the $20 million mark. Arkham Intelligence noted that a recent airdrop triggered the surge, with Trump potentially unaware of receiving such tokens.
Donald Trump’s memecoin holdings have just doubled, to over $20M.Donald Trump was airdropped half of the TROG supply by their developer team a few days ago. It has now been priced on Arkham, with a market value of over $12M.However, with this much of the supply, it is… pic.twitter.com/mOjRMdUQ1u
— Arkham (@ArkhamIntel) June 4, 2024
Arkham Intelligence, in an X post, noted that the TROG developer team airdropped half of the token’s total supply to Trump. After analysis, the intelligence platform confirmed the airdrop’s market value to be $12 million. However, Arkham noted Trump might not sell the tokens for market value, considering their potential impact.
Meanwhile, Arkham attached a screenshot of Trump’s portfolio to the post, showing the top assets held by the former president. Details of the post reveal that apart from TROG, Trump holds $7.9 million worth of TRUMP tokens and $1.8 million in ETH. Other digital assets making up Trump’s top six holdings include $1.43 million worth of WETH, $492,000 worth of MVP, and $212,000 worth of CONAN.
It is important to note that TROG launched only a few days ago, with the creators describing it as a blend of meme culture and financial strategy. The newly launched memecoin aims to capture the humor and investment potential of the crypto market.
Crypto users believe the frog-themed memecoin is capitalizing on the growing popularity of similar projects and the burgeoning ecosystem of speculative crypto tokens.Data from CoinmarketCap shows TROG traded for $0.0001086 at the time of writing, reflecting a 210% gain in the last 24 hours. The surging price could further increase the value of Trump’s holdings as the crypto market rallies into the developing bull cycle.
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