Former U.S. President Donald Trump Enters the Cryptocurrency Market with a Bang, Launches $TRUMP Meme Coin

In a dramatic debut, the token skyrocketed over 300% within hours, reaching a market cap of $8 billion and trading volumes approaching $1 billion.

Former U.S. President Donald Trump has launched his own cryptocurrency, $TRUMP, which has seen a rapid and dramatic rise in value shortly after its debut.

Announced just days before Trump is set to be inaugurated for his second presidential term, the $TRUMP token has quickly ascended in the crypto world. According to CoinMarketCap data, the token's initial price of $0.18 surged to $7.1 shortly after its launch, later peaking at $21.51 — a staggering 231.61% increase.

Built on the Solana blockchain, $TRUMP has a capped supply of 1 billion tokens, with 200 million coins being released initially. The remaining supply will be distributed in phases over three years. Notably, ownership is concentrated, with 80% of the tokens being held by CIC Digital LLC, a Trump Organisation subsidiary, and Fight Fight Fight LLC, a newly established Delaware-based entity.

In introducing the coin on his platforms, Truth Social and X (formerly Twitter), Trump branded it as his "official Trump meme" and encouraged followers to acquire tokens within a 48-hour window via the website gettrumpmemes.com. The coin draws inspiration from Trump’s rallying slogan, “Fight, Fight, Fight,” a phrase linked to his resilience after surviving an assassination attempt in July 2024.

Social media has been abuzz with reactions to the launch. Supporters have hailed the move as a groundbreaking foray into digital assets, while skeptics have expressed doubts about its legitimacy. Some have raised concerns about the concentration of ownership and the project's credibility, especially given Trump's past ventures, which include珍贵的高价手表和古龙水受他幸存的事故启发。

Despite the controversies, $TRUMP's market performance has been undeniable. Early adopters have reported massive profits, with one trader claiming a $20 million windfall within an hour.

Trump's engagement with cryptocurrency aligns with his self-proclaimed “crypto president” image. During his first term, he voiced support for digital assets, and the $TRUMP token signals his continued interest in blockchain innovation. Many speculate that his upcoming term could further bolster the crypto industry.

While the token's explosive debut has made headlines, its long-term impact remains to be seen. Experts have noted that the hype surrounding $TRUMP could lead to volatility, but its success underscores the growing influence of meme coins and their ability to galvanise markets.

The timing of the launch, just days before Trump's January 20 inauguration, has only heightened interest and speculation about its broader implications for the crypto landscape.