Donald Trump's 'Meme Coin' Soars To Record High Ahead Of Inauguration: Here's How You Can Buy It

US President-elect Donald Trump is gearing up for his highly-anticipated inauguration tomorrow (January 20), which will mark his extraordinary return to White

US President-elect Donald Trump is gearing up for his highly-anticipated inauguration tomorrow (January 20), which will mark his extraordinary return to White House after a polarising electoral campaign and two assassination attempts.

Shortly before his swearing-in, the Republican leader launched a cryptocurrency “meme coin" called $TRUMP on Friday, which skyrocketed to an astounding $8 billion in less than three hours of launch. Since then, it has soared drastically in value, more than tripling in price from about $20 per token to more than $70.

The coin at least $24 billion in trading volume as of Sunday morning and more than $14 billion in market capitalisation, according to The Guardian. This came as the cryptocurrency community eagerly awaited Trump’s return as he vowed to create a “strategic national bitcoin stockpile" and make US the “crypto capital of the world".

A “meme coin" is a type of cryptocurrency that has no inherent utility and is solely inspired by online trends like internet memes. It is greatly susceptible to positive or negative trends.

“Trump Memes are intended to function as an expression of support for, and engagement with, the ideals and beliefs embodied by the symbol “$TRUMP" and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type," reads the coin’s website.

Here's A Quick Guide On How To Purchase Trump's Meme Coin:

Brokers: You can purchase Trump meme coins through brokers or exchanges, similar to other cryptocurrencies. You are required to create and validate an account on a platform that supports $TRUMP and deposit money to complete your transaction.

Moonshot: Trump has adviced crypto buyers to use Moonshot, a user-friendly meme marketplace where users can pay via Venmo, Apple Pay, Google Pay and debit/credit cards. Consumers can buy $TRUMP coins after providing their email address.

In order to store the mem coins, users are required to create a bitcoin wallet. Consumers can also trade their primary cryptocurrency for Trump meme coins via a decentralised exchange. Users are advised to exercise caution when it comes to financial activities.

Here's Why The Crypto Market Is Gunning For Trump:

Trump has ignited hopes that his administration will deregulate cryptocurrencies when he takes office. During the presidential campaign, Trump drew heavy financial support from cryptocurrency backers, some of whom are also close to the Republican’s mega-donor, Tesla and SpaceX CEO Elon Musk.

Last month, the value of bitcoin broke the $100,000 mark for the first time after Trump nominated veteran Washington attorney Paul Atkins, a known crypto enthusiast, to chair the Securities and Exchange Commission (SEC). He has also promised to issue an executive order once in office to create a crypto advisory council with as many as 20 members.

In September, Trump launched his own cryptocurrency business called World Liberty Financial. That month, he also purchased burgers from a Manhattan bar frequented by crypto enthusiasts using bitcoin. “History in the making," he declared.