Traders seek genuine Trump memecoins amid flood of imitations

Following the launch of President Donald Trump's memecoin on January 18, traders are eagerly anticipating more official Trump-branded tokens.  

The original TRUMP (CRYPTO:TRUMP) token briefly reached a fully-diluted value (FDV) of over $80 billion within a day of its launch, but the market is now saturated with numerous imitation tokens.  

So far, only the Official Melania token has received endorsement from the Trump family, achieving an FDV of around $14 billion before retracting to under $6 billion as of January 20.  

In contrast, many unofficial knockoffs have seen inflated market capitalisations in the hundreds of millions before experiencing sharp declines.  

One such imitation, dubbed Official Barron Meme, peaked at approximately $400 million before plummeting by over 90%.  

As traders sift through these fakes, speculation continues regarding potential new Trump-themed memecoins.  

On January 19, Eric Trump dismissed rumors about a "USA coin" being the next family project but acknowledged ongoing interest in tokens linked to Barron and Eric Trump.  

The launch of TRUMP and MELANIA tokens has had a notable impact on the Solana (CRYPTO:SOL) blockchain, significantly boosting trading volumes and attracting attention from memecoin enthusiasts.  

Despite initial scepticism about the legitimacy of the launches, confirmation from Trump's team has fueled excitement and speculation in the crypto community.  

As traders navigate this crowded landscape, they remain hopeful for more authentic Trump-branded tokens while grappling with the challenges posed by numerous imitators flooding the market.