Trump launches his own meme coin, value soars

President-elect Donald Trump has introduced a new cryptocurrency, aptly named $TRUMP, sending the digital coin’s market capitalization soaring to billions within hours of its launch.

The announcement was made on Trump’s official Truth Social platform and X (formerly Twitter), unveiling the so-called meme coin—a type of cryptocurrency typically associated with internet trends or personalities rather than functional value.

“This Trump Meme celebrates a leader who doesn’t back down, no matter the odds,” reads the coin’s official website, referencing the July 2024 assassination attempt against the Republican leader.

Following the launch, crypto enthusiasts flooded the market, driving the coin’s market cap to nearly $6 billion by mid-morning Saturday. However, questions about the coin’s legitimacy and direct connection to Trump were initially raised within the crypto community.

Reassurance came from the coin’s announcement on Trump’s verified social media channels and his previous use of CIC Digital LLC—a company involved in managing his earlier NFT ventures.

Details of the launch

According to the coin’s official site, 200 million $TRUMP coins were initially issued. Fight Fight Fight LLC, the company managing the project plans to release an additional 800 million coins over the next three years.

At current valuations, the future batch of coins could be worth around $24 billion. However, neither Trump nor Fight Fight Fight LLC disclosed earnings from the initial coin release.

Trump’s shift on cryptocurrency

Once a vocal critic of cryptocurrency, Trump dramatically changed his stance during his 2024 presidential campaign, advocating for the sector’s growth by promising to loosen regulations and foster innovation.

In October, business associates linked to Trump launched a crypto platform called Liberty Financial, further signaling his embrace of digital currencies.

As $TRUMP gains traction, the coin’s meteoric rise reflects the growing influence of meme-based financial instruments in the digital age—where popularity can translate into market dominance overnight.