Since the launch of TRUMP, there have been many voices debating whether the token is authentic or fake. The price of the token was also extremely volatile, with a 3-minute fluctuation of more than 300%, and its market capitalization quickly fell back to around $70 million after rising to $2 billion, before rising above $8 billion.

The market controversy continues, and some people FUD it is hacking. Market analyst TylerD posted an analysis on the X platform, "Trump's meme coin TRUMP is likely to be a hacker attack in the current situation. Because the domain name is registered in a random office building in Arizona, the proxy address of the domain name is hidden (usually used by scammers). When you look up the phone number, a large number of replies will pop up about cryptocurrency-related scam calls."

Spotonchain also tweeted that the TRUMP on-chain data shows that the token owner is 5e2qRc, funded by DKbF4. The address received SOL from Gate and Binance 2 days and 10 days ago, respectively. None of them used the U.S. exchange Coinbase.

There are also people who recharge faith for it, with software engineer cygaar noting that the deployment of the new Trump Memecoin website is almost identical to the previous NFT site. Same cloudflare setup, same Heroku deployment, same SSL certificate issuer, and very similar HTML structure as before. The fact that Trump's Memecoin website was built with a lot of effort, that it uses Cloudflare to protect it from DDoS attacks, and that SSL certificates were issued on December 21, 2024, are enough to show that the site has been in the works for some time.