On Friday, President-elect Donald Trump launched a new meme coin, $TRUMP, and it’s already making waves. In just a matter of days, the cryptocurrency has surged to a market value of $13 billion, sparking interest from crypto enthusiasts and the general public alike. But what exactly is $TRUMP, and why is everyone talking about it?
The $TRUMP Coin Takes Off
Trump announced the launch of $TRUMP on his Truth Social platform, sharing that it’s all about celebrating his presidential win and the upcoming inauguration. The coin’s price shot up more than 300% by Saturday morning, and by Sunday afternoon, it was trading for over $65. That pushed its market cap to an impressive $13.3 billion, according to CoinMarketCap. At one point, it even hit $75, bringing the total value of all $TRUMP tokens in circulation to $15 billion!
What’s Behind the Coin?
So, what’s fueling the $TRUMP coin’s success? It’s hosted on the Solana blockchain, and its developers have capped the initial supply at 200 million coins. Over the next three years, the total number of coins will grow to 1 billion. However, not all of these coins are available to the public. A hefty 80% of the tokens are owned by two companies linked to Trump’s organization. These companies—CIC Digital LLC and Fight Fight Fight LLC—will receive revenue from trading activity.
But here’s the kicker: $TRUMP is not meant to be an investment opportunity, according to its website. It’s a meme coin, and the creators want to make it clear that it’s not related to any political campaign or government agency.
The Numbers Behind $TRUMP
Here’s where it gets interesting: in just 24 hours, $TRUMP saw a trading volume of $28.86 billion. That’s some serious buzz for a new cryptocurrency. And while some might be skeptical about meme coins, the sheer volume and rapid growth are hard to ignore.
Trump and the Crypto Connection
Trump’s ties to the crypto world run deeper than just this meme coin. He’s been vocal about wanting the U.S. to become the “crypto capital of the planet.” During his election campaign, bitcoin reached new record highs, and it’s clear that crypto supporters were backing him. In 2024, the global crypto market saw an increase of $1.8 trillion in value, with a significant portion of that coming after Trump’s election win.
Trump’s Crypto Plans
Looking ahead, Trump has big plans for crypto. He’s reportedly working on an executive order that would prioritize cryptocurrency policy, create a crypto advisory council, and even establish a bitcoin reserve for the U.S. government. These moves could reshape the crypto landscape and bring even more attention to the space.
Trump’s Merchandising Strategy
It’s no surprise that Trump is tapping into the world of crypto with $TRUMP. This launch is part of his ongoing efforts to create unique merchandise. From perfumes and colognes to $100 silver coins and limited-edition sneakers, Trump has been busy selling products that celebrate his presidency. And with NFTs raking in millions, this meme coin could be his next big moneymaker.
