In a striking move ahead of his upcoming inauguration, President-elect Donald Trump has entered the cryptocurrency space with the launch of his $TRUMP meme coin, igniting a whirlwind of activity in the crypto market. Within a day of its release, $TRUMP has soared to a market capitalization of $13 billion, marking yet another unconventional venture by the former U.S. president.
The announcement came late Friday on Truth Social, Trump’s preferred platform, where he celebrated the new token as a symbol of “WINNING” his presidential election and the imminent inauguration. In a post that stirred both excitement and skepticism, Trump wrote, “We are taking the crypto world by storm—$TRUMP is the coin of victory and future success!”
By Saturday morning, the price of the $TRUMP coin surged more than 300%, reaching over $65 per token. The momentum continued into the weekend, briefly surpassing $75 and pushing the market cap to a peak of $15 billion. This rapid ascent has sparked both intrigue and concern among crypto enthusiasts and skeptics alike.
The $TRUMP coin, which operates on the Solana blockchain, was initially capped at 200 million coins. However, developers have announced plans to gradually increase the total supply to 1 billion tokens over the next three years. This move is expected to further impact the market as the token’s availability expands.
The vast majority of the $TRUMP tokens are held by Trump-affiliated entities, including CIC Digital LLC and Fight Fight Fight LLC—two companies tied to the Trump Organization. State filings reveal that Fight Fight Fight LLC, established just days ago, is set to benefit financially from the success of the token, although the precise revenue-sharing details remain undisclosed.
Despite the explosive growth of $TRUMP, the coin’s website includes a disclaimer, clearly stating that the token is “not intended to be an investment opportunity” nor is it associated with any political campaign or government agency. “This is not a political project, it’s about celebration, success, and the future,” the website asserts.
This development is the latest in a series of unconventional products Trump has introduced to the market, ranging from limited-edition watches to perfumes, sneakers, and collectible items. Notably, Trump’s foray into the cryptocurrency space follows the success of his NFT (non-fungible token) merchandise, which reportedly generated millions in revenue.
Trump’s public stance on cryptocurrency has long been bullish. He has previously expressed a desire to make the United States the “crypto capital of the planet.” His election victory in 2024, supported by several billionaires with ties to the crypto industry, sent shockwaves through the market, pushing the price of Bitcoin to record highs and adding $1.8 trillion to the global crypto market.
A source close to Trump’s campaign revealed that his administration plans to take bold steps in supporting the crypto industry. “We’re going to reduce regulatory hurdles for crypto companies,” the insider said. “Trump will create a new crypto advisory council and issue an executive order prioritizing digital currencies.” This news alone pushed Bitcoin’s value to new highs, surpassing $105,000.
Trump’s crypto policies, expected to be unveiled shortly after his inauguration, could significantly shape the landscape for digital assets. “We want to work with the crypto industry, not against it,” a campaign advisor stated, hinting at plans to create a U.S. government-backed Bitcoin reserve.
While Trump’s move into cryptocurrency might seem unexpected to some, it fits into a broader pattern of leveraging the business world for political and financial gain. His track record of marketing everything from books to memorabilia has generated substantial income over the years, with his NFTs alone reportedly earning him $7.2 million in licensing fees.
The launch of $TRUMP also represents a broader trend of meme coins, which have gained significant popularity in recent years. Following in the footsteps of coins like Dogecoin and Shiba Inu, meme coins are often driven by social media hype rather than fundamental value. However, unlike other meme coins, $TRUMP benefits from a massive built-in fanbase due to his political prominence and global recognition.
Despite the enthusiasm surrounding $TRUMP, critics have raised concerns over the potential for market manipulation and the speculative nature of meme coins. “This is another attempt to cash in on the political narrative,” said John Harrison, a financial analyst at CryptoWatch. “While the coin is attracting attention now, its long-term value is questionable.”
For now, though, the meme coin’s popularity is undeniable. The trading volume for $TRUMP surged to nearly $29 billion in just 24 hours, further solidifying its place in the crypto world. However, some question whether this is a flash in the pan or the beginning of a new wave of digital tokens tied to political figures.
In addition to its market success, $TRUMP has sparked a new conversation about the intersection of politics and cryptocurrency. While Trump’s affiliation with the coin is clear, the coin’s website makes a pointed effort to distance itself from any political campaign activities. The tone of the site suggests that $TRUMP is more about branding and fan engagement than about policy influence.
As Trump prepares to take office, his meme coin’s continued success could signal a shift in how cryptocurrencies are marketed and perceived. Whether this venture will redefine the future of digital currencies or become a brief spectacle remains to be seen.
