US President-elect Donald Trump Unveils His Own Cryptocurrency, $TRUMP, Which Has Sparked a Buying Frenzy

This was made known in a statement posted on Trump’s Truth Social platform on X, Trump unveiled the meme coin, which is designed to capitalize on the popularity

United States President-elect Donald Trump has unveiled his own cryptocurrency, $TRUMP, sparking a buying frenzy that saw its market capitalization reach nearly $6 billion by mid-morning Saturday.

Announcing the meme coin, which is designed to capitalize on the popularity of a certain personality, movement or viral internet trend, in a statement on his Truth Social platform on X, Trump unveiled the coin.

The coin’s value skyrocketed over 12,000% overnight, with some reports indicating a 3,000% price surge just two hours after its launch.

The $TRUMP coin is a meme coin, designed to capitalize on the popularity of a certain personality or movement.

As stated on the coin’s official site, “This Trump Meme celebrates a leader who doesn’t back down, no matter the odds,” referencing the assassination attempt against Trump in July 2024.

Despite initial skepticism and concerns about the legitimacy of the coin, the fact that the announcement came from Trump’s official social media channels has reassured the market. Additionally, Trump’s past collaboration with CIC Digital LLC, one of the companies behind the project, has lent credibility to the venture.

The coin’s official site reveals that 200 million meme coins were issued initially, with an additional 800 million to be added over the next three years. At the current rate, the coins not yet on the market would be worth approximately $24 billion.

This move marks a significant shift in Trump’s stance on cryptocurrency, having previously been opposed to it. During his 2024 presidential campaign, however, he became a champion of the concept, promising to develop the sector by loosening regulations.