Donald Trump Unveils $TRUMP Meme Coin—Token Reaches $9 Billion Market Cap
On Friday, President-elect Donald Trump introduced a new cryptocurrency called $TRUMP, a meme coin that quickly surged in popularity. By Sunday, the token’s market capitalization climbed to approximately $9 billion, having previously peaked at over $15 billion earlier that day. This venture adds to Trump’s portfolio of initiatives as he prepares for his upcoming inauguration.
$TRUMP Meme Coin
Trump announced the launch of the $TRUMP cryptocurrency via a post on Truth Social, describing it as a way to celebrate his presidential victory and forthcoming swearing-in ceremony.
Following its release, the token’s value skyrocketed by over 300% by Saturday morning. The upward momentum continued into Saturday night and early Sunday before pulling back slightly later that day.
As of 5:25 p.m. EST on Sunday, the digital currency was trading at just over $46, with a market cap of $9.36 billion, according to data from CoinMarketCap. At its peak early Sunday, the token reached $75, pushing the total value of circulating coins to $15 billion.
The $TRUMP coin operates on the Solana blockchain and is designed with an initial supply of 200 million tokens, according to its official website. Developers plan to increase the supply to 1 billion tokens over the next three years. Currently, 80% of the tokens are held by two entities: CIC Digital LLC, a Trump Organization affiliate, and Fight Fight Fight LLC, a Delaware-based company established on January 7. Both companies are set to receive revenue from trading activities, though the exact figures remain undisclosed.
The token’s website clarifies that $TRUMP is not intended as an investment or security and states it is unrelated to any political campaign, office, or government entity.
Trading Highlights
$36.15 billion – The 24-hour trading volume of $TRUMP as of 5:25 p.m. EST Sunday.
What’s Next?
Melania Trump also entered the crypto space on Sunday, unveiling her own token, $MELANIA.
Background
Trump has consistently expressed interest in advancing the U.S. as a global leader in cryptocurrency. His presidential victory reportedly pushed Bitcoin prices to record highs, surpassing $100,000 within a month after Election Day. According to CoinGecko, the global cryptocurrency market added $1.8 trillion in value throughout 2024, with $1 trillion of that growth occurring post-election.
Trump’s Crypto Agenda
The president-elect has proposed reducing regulatory hurdles for cryptocurrency companies, including forming a dedicated advisory council. Reports suggest Trump plans to sign an executive order prioritizing cryptocurrency and encouraging federal agencies to collaborate with the industry. The order would also establish a federal Bitcoin reserve, enabling the government to engage in Bitcoin trading. News of these initiatives boosted Bitcoin prices to over $105,000 last Friday, marking its highest value in nearly a month.
A Broader Merchandise Strategy
The $TRUMP meme coin represents the latest addition to Trump’s array of merchandise offerings. Over the years, his products have included perfumes, luxury watches, and collectible items celebrating his election win. Recent launches include high-end “Trump Watches,” valued at up to $100,000, limited-edition sneakers, and collectible silver coins. Trump has also capitalized on NFTs, reportedly earning $7.2 million in licensing fees. His signed and unsigned guitar collections, priced at $11,500 and $1,500 respectively, sold out and generated $4.6 million in sales.
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