Donald Trump launches official memecoin; Cryptocurrency soars over 400% and surpasses industry giants

The positive surprise today at market of cryptocurrencies is the newly launched memecoins Official Trump (TRUMP), which has exploded over 400% in the last 24 hours. On January 17, US President-elect Donald Trump announced the launch of the Solana-based memecoin through social media posts. The move comes days before his inauguration to become the 47th US president, scheduled for this Monday (20).

In a surprising development, the TRUMP memecoin has skyrocketed in price and quickly reached a market cap of over $9 billion. This has seen the coin surpass industry giants such as BONK and WIF. The token currently ranks 37th in the overall cryptocurrency rankings and is the 4th largest memecoin.

On his social media, Donald Trump announced the release stating: “My NEW official Trump meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump community. GET YOUR $TRUMP NOW.”

According to website According to the official statement, there are 200 million TRUMP tokens available on day one and this number will grow to a total of 1 billion TRUMP over three years. “Each pool’s allocation is released on its own schedule over 3 years.”

“Trump memes are intended to function as an expression of support for and engagement with the ideals and beliefs embodied by the “$TRUMP” symbol and associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any kind. GetTrumpMemes.com is not political and has nothing to do with any political campaign or any political office or government agency.”

Although the cryptocurrency community initially suspected a hack into the president-elect's accounts, the project is associated with the same company that was responsible for launching Trump's collectible NFTs, CIC Digital LLC.

“CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC collectively own 80% of the Trump Cards, subject to a 3-year unlock schedule. CIC Digital LLC and Celebration Cards LLC, owners of Fight Fight Fight LLC, will receive trading revenue derived from trading activities of Trump Meme Cards.”

At the time of publication, TRUMP’s price is trading at $21,85, up 409.4% in the last 24 hours. Additionally, Official Trump (TRUMP)’s trading volume is $6.351.254.674 in the last 24 hours, representing a 658,30% increase from a day ago and signaling a recent surge in market activity.