Memecoins
Dominates TROG Memecoin with Over 50% Stake in $32 Million Illiquid Wallet
Donald Trump’s crypto portfolio, as detailed by Arkham Intelligence, has seen a significant increase in value over the past three months, peaking at around $32 million due to a surge in memecoins.
Its holdings are diversified across multiple tokens, with notable holdings in TROG, TRUMP, ETH, and WETH.
Top Trump headlines and market impact
Trump’s largest holding lies in the TROG token, with 210.345 billion tokens valued at approximately $21 million. This represents more than half of TROG’s total market capitalization of $36 million, indicating a substantial concentration of its portfolio in this single asset.
The price of TROG is approximately $0.0001. It rose over 160% in the last 24 hours after his supporters realized he held the token. The TRUMP token, another major holding, is valued at $7.61 million, with 579.29 thousand tokens priced at $13.13 each.
TROG capitalizes on the continued popularity of frog-themed memecoins like PEPE, intertwined with themes drawn from Trump’s political branding. The creators of TROG describe it as a blend of meme culture and financial strategy, aiming to capture both the humor and investment potential of the crypto market.
The official TROG website playfully notes: “Welcome to the wacky and wild world of Trog (Trump Frog) – the meme coin that is here to make crypto great again!” Born from legendary internet culture and inspired by the one and only Donald Trump, Trog combines the hilarity of memes with the revolutionary spirit of cryptocurrency.
Cultural and financial context of TROG
TROG’s creation is rooted in Internet meme culture, particularly a Photoshop meme featuring Donald Trump with a green frog painted on his mouth and chin. This meme gained popularity when artist Mike Mitchell tweeted several altered photographs of Trump in May 2017.
In one week, the original tweet garnered more than 31,600 likes and 14,300 retweets. The meme quickly spread, with additional photoshopped images widely shared across social media platforms and covered by outlets like Bored Panda, Mashable, and The Daily Dot.
The strategic dropping of TROG into Trump’s portfolio, which comprises half of the total supply, appears to be a calculated move by the developers to exploit his public profile and influence. However, despite the large face value of these holdings, the practical implications of liquidating such a large amount of TROG at market value are questionable. As Arkham pointed out, “with this amount of supply, it’s unlikely that Trump could sell it at market value, if he even knew it existed.”
Most of Trump’s income appears to come from donations and token airdrop projects aimed at him. wallet, as well as royalties from his TRUMP NFT collection. Despite the impressive total value of his portfolio, which has ballooned to around $30 million, a significant portion of that wealth is illiquid. This is due to the lack of market depth and volume for some of the memecoins it holds, like TROG, which saw just $20 million in trading volume in the last 24 hours.
This illiquidity could pose difficulties in realizing the full value of one’s holdings, meaning they are just paper profits. His Ethereum (ETH) holdings stand at 471.79 ETH, valued at $1.80 million, while his Ethereum (WETH) holdings stand at 374.974 WETH, valued at $1.43 million. Other notable assets include MVP, CONAN, BABYTRUMP, and ELON tokens.
Trump’s evolving views on cryptocurrency
Despite his historically fluctuating stance on cryptocurrencies relative to the US dollar, Donald Trump has shown a significant shift towards a more favorable attitude. In a May article on Truth Social, shortly before his appearance at the Libertarian National Convention, he expressed optimism for the cryptocurrency sector.
Trump expressed his strong belief in the potential of cryptocurrency companies and related industries, emphasizing the need for the United States to play a leadership role in this innovative field. “I am very positive and open-minded towards cryptocurrency companies and everything related to this new and booming industry. Our country must be a leader in this area,” he wrote in characteristic capital letters, adding: “There is no second place.”
This marks a notable shift from his previous views, as expressed in a 2021 interview with Fox Business, in which he argued for strict regulation of cryptocurrencies, saying: “The currency of this world should be the dollar.
And I don’t think we should have all the Bitcoins in the world. I think they should regulate them very, very high. This shift in Trump’s view reflects broader acceptance and recognition of the transformative potential that cryptocurrencies hold for the future of global finance.