Bitrabo Editorial
Former US President Donald Trump’s cryptocurrency holdings have spiked to almost $26 million after receiving a significant amount of a new memecoin. This sharp rise was brought to light by the crypto intelligence platform Arkham, which shared through X that “Donald Trump’s memecoin holdings have doubled to over $20 million. Trump was given half of the TROG supply in an airdrop by the developers recently, resulting in a market value exceeding $12 million.”
Donald Trump’s Rising Crypto Assets Exceed $25 Million
TROG capitalizes on the current craze surrounding frog-themed memecoins like PEPE, intertwined with elements from Trump’s political persona. TROG’s creators position it as a fusion of meme culture and financial strategy, seeking to embrace both the amusement and investment opportunities within the crypto sphere.
The official TROG website whimsically states: “Welcome to the zany world of Trog (Trump Frog) – the memecoin here to elevate crypto back to greatness! Stemming from internet lore and inspired by Donald Trump, Trog combines meme hilarity with the revolutionary essence of cryptocurrency.”
As of now, the value of TROG continues to rise, pushing Trump’s share in this memecoin above $14 million. This substantial growth has lifted Trump’s total crypto wealth to an impressive $25.97 million. His leading holdings now include TROG ($14.05 million), TRUMP ($7.55 million), Ethereum ($1.79 million), and Wrapped Ethereum ($1.42 million).
While the initial two assets in Trump’s portfolio are distributed memecoins, his ETH and WETH possessions arise from his personal NFT collection, with earnings from these sales directed to his wallet.
The foundation of TROG traces back to internet meme culture, particularly a photoshopped meme depicting Donald Trump with a green frog overlay on his mouth and chin. This meme gained traction when artist Mike Mitchell tweeted altered Trump pictures in May 2017, which quickly garnered significant online attention. The meme spread rapidly across social platforms and media outlets like Bored Panda, Mashable, and The Daily Dot.
TROG’s tokenomics unveil that Trump holds precisely 50% of the overall supply, totaling 210.34 billion TROG tokens. The second-largest holder commands 1.62% of the supply, equivalent to 7.23 billion TROG, valued at around $450,000. The ownership concentration is further highlighted by the top 10 holders controlling 66.72% of the total supply.
The deliberate distribution of TROG to Trump’s wallet, encompassing half of the total supply, seems to be a strategic move by the developers to leverage his public persona and influence. Yet, despite the significant nominal value of these holdings, the practicality of selling such a substantial amount of TROG at market value is dubious. As noted by Arkham, “with this level of supply, it’s unlikely that Trump could liquidate it at market value, assuming he was even aware of its existence.”
Currently, the Trump memecoin (MAGA) trades at $13.06.
