Donald Trump’s $TRUMP crypto coin sparks frenzy; surges over 300% in hours, hits $8 billion market cap
President-elect Trump took the $3.5 trillion cryptocurrency industry by surprise Friday night, announcing the launch of his own crypto token called $TRUMP coin.
The launch is on its way to becoming one of the most successful in history.
In less than 24 hours, $TRUMP’s value rose from just a few cents to $33.87, representing a staggering price gain of over 18,000%. The token price has since come down to around $26 with a market cap of over $5 billion, putting it in the top 30 biggest cryptocurrencies in the world. When the news broke, many attendees were skeptical, speculating that the president-elect’s accounts had been hacked. Donald Trump, Jr., who presumably knew about the announcement, was cordoned off in an exclusive VIP section. It’s unclear whether he spoke to anyone there about the token launch.
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community”.
Trump has not commented on the coin since the original announcement. His son, Eric Trump, posted on X Saturday afternoon that the coin is the “hottest digital meme on earth.” The president-elect’s X account reposted his son’s comments.
Two spokespeople for the Trump transition team did not respond to requests for comment.
