President-Elect Donald Trump Announces the Launch of His “Official” Meme Coin, TRUMP

Within hours of its debut, the cryptocurrency took the market by storm, recording a fully diluted valuation (FDV) of $16 billion in under 6 hours.

Freshly elected U.S. President Donald Trump has announced the launch of his “official” meme coin, $TRUMP, on social platforms X and Truth Social.

Within hours of its debut, the cryptocurrency soared to $20, marking an astronomical 4,850% price surge from its debut price of $0.05. This remarkable rise also drove the token’s market capitalization to $4.05 billion.

Trump’s announcement, shared via a bold post on X, highlighted the coin’s symbolic significance.

“My NEW official Trump meme is HERE! It’s time to celebrate everything we stand for: VICTORY! Join my special Trump community. Get your $TRUMP NOW,” Trump’s official X page tweeted early Saturday. The post also included a link to the official platform for purchasing the token, further fueling its meteoric rise.

The TRUMP token’s debut has shaken the meme coin market, dethroning several established tokens like Pepe and Bonk and rivaling Dogecoin (DOGE) as the top meme cryptocurrency.

Meanwhile, some early adopters have already reaped extraordinary profits. One investor turned a $1.09 million investment into $29.8 million within just two hours, while another pocketed a staggering $70 million from a $1.1 million buy-in.

However, some analysts have expressed concerns regarding the 80% of the token supply that remains locked. If these locked tokens are released, they could significantly impact the market, potentially leading to heightened price volatility.

Major crypto exchanges have also taken steps to integrate the TRUMP token amid the surging demand. Prominent platforms like Bitget and Bybit have announced support for the token.

This development highlights President-elect Donald Trump’s crypto-friendly stance, which has further solidified his popularity within the industry.

According to reports, Trump is preparing an executive order for his first day in office to prioritize cryptocurrencies as a national policy and establish a federal advisory council to represent the industry. His administration is also expected to champion Bitcoin adoption and potentially remove SEC Chief Gary Gensler, who has been seen as an obstacle to the country’s crypto agenda.

At press time, TRUMP was trading at approximately $29.06, boasting a 348% price increase throughout the day.