US President-elect Donald Trump has launched his own cryptocurrency, appropriately called $TRUMP.

Trump announced the launch on X on Saturday and encouraged his supporters to embrace the initiative. Nine hours after the launch, the meme coin has reached a

United States President-elect Donald Trump has launched his own cryptocurrency, aptly named $TRUMP.

Trump announced the launch on X on Saturday and urged his supporters to get behind the initiative.

According to cryptocurrency aggregator Coingecko, the meme coin reached a market capitalisation of $4 billion within nine hours of launching.

Meme coins do not have any economic or transactional value and are often used for speculative trading.

An hour after Trump announced the launch, the meme coin was trading at $4.29, but the asset has since gained 414.7 percent and is currently trading at $20.59.

“My NEW Official Trump Meme is finally HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community GET YOUR $TRUMP NOW Go to gettrumpmemes.com — Have Fun!” wrote Trump.

The launch of $Trump is strategically timed, coming just days before his inauguration as the 47th president of the United States on January 20.

A statement on the $Trump website described the meme coin as more than just a digital asset but a “piece of history”.

The statement said the meme coin commemorates Trump’s resilience during his campaign last year after surviving an assassination attempt at a campaign rally in Butler, Pennsylvania on July 13.

“There are 200 million $TRUMP available on day one and will grow to a total of 1 billion $TRUMP over three years. Each group’s allocation are released on their own schedule over 3 years,” reads the statement.

The website pays tribute to a leader who “never backs down, no matter the odds” and invites supporters to invest in $Trump.

At the current rate, the coins not yet on the market would be worth about $24 billion.

Trump, who was initially opposed to cryptocurrency, made a sharp about-face during his 2024 presidential campaign, becoming a champion of the concept and promising to develop the sector, particularly by easing regulations.

Before this new announcement, businessmen linked to Trump had launched a crypto platform called World Liberty Financial in October.

Solana’s SOL token, meanwhile, surged after a memecoin linked to President-elect Donald Trump launched on the popular blockchain network.

According to Coin Metrics, the price of SOL increased by more than 15% to $254.71 on Saturday. Earlier, it surged nearly 23%. Among its main competitors, Ether fell 7%.

Solana is the fourth-largest cryptocurrency by market cap, excluding stablecoins. Created in 2020 as a faster and cheaper alternative to Ethereum, Solana now hosts some of the most popular memecoins like dogwifhat and Pudgy Penguins, as well as decentralized finance (DeFi) and gaming projects.

The token has become so popular that asset managers are looking to launch exchange traded funds that track its price. The decision deadline for potential ETFs from Bitwise, VanEck, 21Shares and Canary is approaching Jan. 25.

Additionally, ProShares filed for four different ETFs based on SOL on Friday evening. According to JPMorgan, if approved this year, SOL ETFs may only attract a fraction of the assets that flowed into bitcoin ETFs in their first year of trading.

SOL gained 85% in 2024 and is now trading about 4% below its all-time high of $264.56, which was reached on Nov. 22.

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