Trump Launches Cryptocurrency: $TRUMP Already Worth Billions

Donald Trump has launched his own cryptocurrency — the meme coin $TRUMP, which has increased in price from 18 cents to nearly $20 in just a few days, reaching a market capitalization of $4 billion, reports NewsBox.

Donald Trump announced the launch of his cryptocurrency under the name $TRUMP, which falls under the meme coin category. On the Solana blockchain, 200 million tokens were released on the first day of sales, and by 2027, the total number of tokens is expected to reach one billion.

The initial price of one token was 18 cents, but as of now, its value has risen to almost $20. According to data from Coinmarket, the market capitalization of the new cryptocurrency is around $4 billion, with trading volume recorded at $5.5 billion.

The meme coin, as noted by RBC, is presented as a cryptocurrency created more for fun and potential profit on speculative growth than for fundamental use. An analogous example is Dogecoin.

Additionally, Bloomberg previously reported on Trump's plans to establish cryptocurrency policy as a national priority. This suggests a closer collaboration between government agencies and the cryptocurrency industry, as well as the creation of a special advisory council in the United States.