U.S. President-elect Donald Trump Launches New Meme Coin With His Name, Creating a Significant Buzz in the Digital Asset Market

The “OFFICIAL TRUMP” meme coin, announced by Donald Trump via his social media accounts on Friday, declaring, “The official Trump meme is here!”

U.S. President-elect Donald Trump has launched a new meme coin named after himself, sparking a lot of attention in the digital asset market.

The “OFFICIAL TRUMP” meme coin was announced by Donald Trump on Friday through his social media accounts, where he stated, “The official Trump meme is here!” He invited his followers to “join the very special Trump community. Have fun,” and included a link to the coin's official website in the announcement.

According to data from CoinMarketCap, the OFFICIAL TRUMP coin has seen a remarkable 248.32% increase in value over the past 24 hours, reaching $22.59. Its market capitalization has also surged to $4.51 billion, with a trading volume of $5.02 billion during the same period.

What's behind the Trump meme coin?

The OFFICIAL TRUMP coin is built on the Solana blockchain, with 200 million coins currently circulating. The total supply is set to increase to 1 billion over the next three years.

Analysts suggest that this launch is a move to capitalize on Trump's strong personal brand and the ongoing interest in cryptocurrency markets.

Western media has reported that Trump's administration may use this initiative to establish a U.S. cryptocurrency reserve, giving priority to blockchain projects like Solana and Ripple, which have strong ties to U.S. interests.

The launch of the OFFICIAL TRUMP coin marks an unprecedented entry into the cryptocurrency sector by a high-profile political figure, leading to speculation about its implications for the broader digital currency market.

Donald Trump will begin his presidential term on Jan. 20, following the inauguration ceremony.