President Donald Trump has officially entered the cryptocurrency arena with the launch of his own digital coin, $TRUMP, which has seen a big rise in value just days after its debut.
Promoted as a “meme coin,” the cryptocurrency has already made a big splash in the digital currency market.
Trump first made the announcement to introduce the coin last week in a post to his Truth Social platform, as well as Elon Musk’s X.
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!,” The President posted.
Additionally, The First Lady launched her own “meme coin,” with Trump also announcing the $MELANIA coin via his Truth Social platform this week, “The Official Melania Meme is live! You can buy $MELANIA now.”
According to the $TRUMP coin’s official website, the crypto celebrates, “a leader who doesn’t back down, no matter the odds.”
Despite some meme coins of the past being dismissed as speculative assets at best, $TRUMP has been soaring to a market capitalization of $11.5 billion within the first two days of trading. On Sunday morning, the price of $TRUMP stood at $57.49 per coin, up dramatically from its first day value, according to CoinMarketCap.com.
As of Monday afternoon the coin had dropped to $40.55.
While $TRUMP’s first price surge is undoubtable, the coin’s future still remains cloudy. Meme coins, such as Dogecoin and Shiba Inu, have historically been known for their volatility, driven largely by social media trends and celebrity endorsements rather than real-world value. However, this skepticism with other coins has not deterred early investors from Trump’s venture, many of which seem eager to capitalize on the president’s explosive start in cryptocurrency.
The cryptocurrency was launched by Fight Fight Fight LLC, with not many direct public details about how much Trump himself stands to gain from the venture. What is known is that the initial release involved 200 million $TRUMP coins, with another 800 million set to enter circulation over the next three years, according to the $TRUMP website.
Trump’s connection to cryptocurrency has been well-established for some time. Last summer, he took the stage at the Bitcoin conference in Nashville, where he spoke about his vision for digital currencies should he return to office 2025. At that time, Trump expressed his commitment to making America the “crypto capital of the planet.”
In the days following Trump’s election win, the cryptocurrency market as a whole experienced a surge, with Bitcoin climbing from around $80,000 per coin to more than $100,000, as previously reported by The Dallas Express.