Donald Trump Launches $TRUMP Meme Coin—Token Hits $9 Billion Market Cap
President-elect Donald Trump recently launched his own meme coin, $TRUMP, which quickly gained significant traction in the cryptocurrency market.
Within hours of its launch, the coin's market capitalization soared to nearly $14 billion, with its value increasing by over 300% .
The coin's price briefly surpassed $75, bringing the total market cap to a peak of $15 billion .
$TRUMP is hosted on the Solana blockchain and has a limited supply of 200 million coins, which will expand to 1 billion over the next three years .
The Trump Organization affiliate CIC Digital LLC and Fight Fight Fight LLC own 80% of the unreleased tokens, earning revenue from trading activity .
Trump announced the launch on his social media platform Truth Social, calling it his "official meme" and urging supporters to celebrate everything it represents .
The coin's website includes a disclaimer stating that $TRUMP is not an investment opportunity or security and has no connection to Trump's political campaign or government agency .
This move is seen as part of Trump's broader push into the cryptocurrency market. His election victory drove Bitcoin to new heights, surpassing $100,000 shortly after the November 2024 election .
Trump plans to issue an executive order prioritizing cryptocurrency, establishing a Bitcoin reserve, and creating a crypto advisory council to reduce regulatory hurdles