Trump launches meme coin ‘$TRUMP’ ahead of inauguration
Trump Launches Meme Coin ‘$TRUMP’ Ahead of Inauguration
Market Frenzy Over $TRUMP Meme Coin
President-elect Donald Trump has launched his own meme coin, $TRUMP, sparking massive excitement in the cryptocurrency world. Within hours of its release, the coin reached a market capitalization of $6.8 billion, reflecting an enthusiastic reception.
Celebrating “Winning” with $TRUMP
Announcing the launch on X, Trump stated:
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.”
Explosive Growth and Early Profits
The cryptocurrency saw a meteoric rise from an initial price of $0.18 to a peak of $7.10, representing a staggering 4,000% increase. Solana (SOL) developed the coin, launching with 200 million tokens, while the total supply is set to reach 1 billion within three years.
One trader reportedly purchased nearly 6 million $TRUMP coins for $1.1 million in USDC. In just 90 seconds, the investment skyrocketed to $23 million, netting the trader a $20 million profit while they retained 5.43 million coins.
Inauguration Day Preparations
The launch coincides with preparations for Trump’s inauguration as president and JD Vance as vice president on Monday. Due to frigid temperatures, the ceremony has been moved indoors to the Capitol Rotunda, marking one of the coldest inauguration days in four decades.
Political Tensions Persist
As the event approaches, reports suggest a growing number of Democrats plan to skip the inauguration, highlighting ongoing political divisions.
This development signals not only a milestone in Trump’s political journey but also his venture into the dynamic world of cryptocurrency.
