Donald Trump launched his cryptocurrency, $TRUMP, on Friday, triggering a massive buying spree.
The meme coin’s market capitalization skyrocketed to $6 billion within hours of its release.
Official Announcement Fuels Hype
Trump introduced $TRUMP on his Truth Social platform and X, declaring, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!”
Meme coins are typically speculative and lack economic utility, but Trump’s involvement and the use of CIC Digital LLC—previously linked to his NFT projects—helped establish credibility.
Market Response and Concerns
Despite initial skepticism about the coin’s legitimacy, Trump’s official endorsement reassured investors. By Saturday morning, $TRUMP had issued 200 million coins, with plans to release 800 million more over three years.
Trump’s Crypto Journey
From Skeptic to Advocate
Once critical of cryptocurrencies, Trump has embraced the industry. He and his family launched World Liberty Financial, a crypto venture, and he has pledged to make the U.S. “the crypto capital of the planet.”
$TRUMP Coin’s Future
While Trump’s earnings from the launch remain undisclosed, the coin’s rapid rise highlights its speculative appeal.
Investors are now watching closely to see if $TRUMP will sustain its momentum in the volatile crypto market.
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