With the introduction of his $TRUMP meme coin, former US President Donald Trump made a spectacular debut in the cryptocurrency market. The coin made a spectacular start, soaring over 300% in a matter of hours to achieve a market valuation of $8 billion and trading volume close to $1 billion. $TRUMP, which was revealed just a few days prior to Trump’s inauguration for his second term as president, has gone viral in the cryptocurrency community. According to Coin Market Cap data, the token’s initial value of $0.18 skyrocketed to $7.1 soon after introduction and then peaked at $21.51, representing a startling 231.61% rise.
Trump’s New Crypto Meme Coin
President-elect Donald Trump has introduced a new cryptocurrency coin called Trump Meme Coin. The price of the Trump Meme Coin skyrocketed, possibly increasing his wealth before the US president’s inauguration. according to sources, the 78-year-old Republican spoke favorably of cryptocurrencies throughout his presidential campaign.
In the past, Trump has also assisted in the sale of watches with diamonds, gold sneakers, and branded bibles. Trump encouraged supporters of the meme coin to ‘Have Fun!’. According to the reports, the website that sells the tokens states that they are intended as tokens of support rather than as an investment opportunity.
This approach does not restrict individuals from trying to make money. After the launch, the TRUMP meme coin began selling for $10 each before soaring to as high as about $70 on 19 January 2025.
Meme coins are unique and highly volatile in nature when compared to other cryptocurrencies. They launch as a joke with no real value but can acquire significant popularity and price if enough people are willing to purchase them. Dogecoin is the most popular meme coin in the world, gaining immense popularity due to its humor.
Some crypto enthusiasts hailed the new crypto meme coin introduced by Trump, saying it is a symbol of the incoming president’s support for an industry that felt unfairly targeted by the Biden administration. Donald Trump has promised crypto enthusiasts that he will usher in crypto-friendly regulations and will make these currencies available all across the world. According to cryptocurrency critics, the Trump meme coin could be a dangerous way for special interests and foreign governments to try out and purchase influence with the president.
CIC Digital, an affiliate of the Trump Organization, organized the sale of $TRUMP meme coin. According to them, there are currently 200 million TRUMP meme coins that are available to purchase, with plans to issue 1 billion over the next 3 years. CIC Digital and another company are holding 80% of the TRUMP meme coins and they will get trading revenue derived from trading activities, according to the official website of the token.
TRUMP Meme Coin Experiences Skyrocketing Prices
The newly launched TRUMP meme coin has started selling for $10 each. After seeling for hours, the price of TRUMP meme coin has soared to as high as about $70 as of Sunday morning. Trump’s meme coin skyrocketed upon his debut, reaching a staggering $14 million in market capitalization, making the meme coin one of the top 20 cryptocurrencies by market capitalization.
However, the price surge was short-lived. The price of Trump’s new meme coin declined sharply after his wife, Melania Trump, posted a meme coin under her ownership. Melania Trump, the incoming First Lady established her own meme coin, $MELANIA, on January 20, 2025.
Melania posted an announcement on all of her social media accounts, saying “The Official Melania Meme is live! You can buy $MELANIA now,”. Melania’s new coin has ruled the headlines of every media. $MELANIA coin has gained significant popularity rapidly, with the price rising to over $5 and a market capitalization exceeding $5 billion.
Melania posted the announcement on herself on X, encouraging traders to buy her new coin. The introduction of Melania’s new coin has negatively impacted Trump’s new meme coin. After a few minutes of $MELANIA’s launch, Trump’s meme coin lost nearly 40% of its value, with many investors and traders who invested earlier in the TRUMP token quickly selling their holdings to purchase the new $MELANIA coin. According to the reports, the price of Trump’s token had dropped by %7.5 billion in just 10 minutes following the introduction of Melania’s new coin.
Recently, the Trump family firm published an ethics agreement that restricts the amount of financial information that may be shared with Trump and forbids him from making day-to-day decisions at the Trump Organization while he is president. Last year, Trump and his family assisted in starting a new cryptocurrency trading business.
Additionally, the president-elect has experimented with non-fungible tokens (NFTs), and last year claimed to have made between $100,000 and $1 million from a series of digital trading cards featuring him in cartoon-like roles, such as a superhero, astronaut, or cowboy.
Conclusion
The rise of the TRUMP meme coin exemplifies the dynamic and often unpredictable nature of the cryptocurrency market, where cultural phenomena and social media trends can significantly influence investor behavior. As the coin continues to gain traction, it raises important questions about the intersection of politics, finance, and digital innovation. While its meteoric price increase may attract speculative investors hoping to capitalize on the hype. It also serves as a reminder of the inherent risks associated with meme coins and cryptocurrencies in general. As we look to the future, the sustainability of Trump’s meme coin’ value will depend on various factors, including market sentiment, regulatory developments, and the broader acceptance of cryptocurrencies. Whether it becomes a lasting fixture in the crypto ecosystem or faded into obscurity remains to be seen.