Donald Trump's Crypto Stash Swells To $31M Thanks To 'Trump Frog' TROG Airdrop

Former President Donald Trump's crypto portfolio is boosted by the airdrop of a new meme coin crossing over Trump and frog memes.

What Happened: Arkham Intelligence data shows Donald Trump's meme coin holdings surging to over $30 million. The former president was airdropped half of the Trog TROG/USD supply by the developer team a few days ago. This airdrop has now been factored in by Arkham, with a market worth of around $19 million.

Arkham noted that holding such a significant portion of the supply (210.3 billion), it is improbable that Trump could sell it at market value, even if he is aware of its existence.

Trump’s portfolio value stands at $30.3 million, more than doubling from the $13 million only a week prior.

Maga Memecoin TRUMP/USD, Ethereum ETH/USD and WETH WETH/USD are the next three top holdings in Trump's portfolio.

Also Read: Survey: Crypto Stance Could Sway One-Third Of 2024 Voters

Why It Matters: Arkham's post raises questions about the liquidity of such assets and the challenges in converting them to cash. This development could also influence the market perception and value of TROG, given Trump’s high-profile status.

In a tweet, popular crypto trader Zoomer Oracle ironically mused how the media may have to report TROG being the biggest donator of Trump’s campaign. Another trader reported a six-figure gain in only four days trading the meme coin.

TROG bills itself as a combination of the "meme-worthy charm of a frog with the unmistakable flair of Trump."

The symbol is a frog with the hat of ‘MAGA'. Its developers call Trog not just a coin but a movement. "A green wave of fun, financial potential, and of course, a good dose of meme magic."

According to DEXScreener data, TROG started trading on June 1, and is up 130% over the past 24 hours to trade around a $38 million valuation.

What’s Next: The influence of meme coins and Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Donald Trump’s Crypto Wallet Grows By $500K In Value Following Trial

Image created using artificial intelligence with Midjourney.