US President-elect Donald Trump announced his cryptocurrency “$TRUMP” on Saturday, January 18, ahead of his appointment as the 47th President of the United States on Monday, January 20.
“My new official Trump meme is here! It’s a time to celebrate everything we stand for: WIN! Join my exclusive Trump community. Get your $Trump now. Visit http://gettrumpmemes.com – Enjoy!” Said donald trump In your social media posts on Platform X.
this meme coin is one solanabased cryptocurrency which made a great debut in the crypto market and gained more than 300 percent on the very first day and crossed the market capitalization of $6 billion. of mint Earlier report.
Track record of $TRUMP coin
The Trump meme coin has surged more than 230 percent in the last 24 hours as the cryptocurrency’s market capitalization crossed the $14.3 billion mark on Sunday, January 19, according to data collected from CoinMarketCap.
As of 5:02 PM (IST), the trading volume of the $TRUMP coin has increased by over 330 percent, currently standing at a little over $18 billion. According to the official website, there are 200 million $TRUMP coins in circulation, which is expected to increase to a total of 1 billion $TRUMP over the next three years.
The $TRUMP coin reached its record high again on January 19 at $72.70. The coin is currently trading at $72.71 as of 5:04PM (IST).
$Trump’s launch objective?
According to the official website, the $TRUMP meme coin symbolizes the celebration of Trump’s return to the White House as leaders look to the inauguration ceremony on January 20.
The website also mentioned that trump meme The coins are intended to symbolize an expression of support for the incoming Trump administration. People have raised doubts about the validity of the crypto coin, but the official website and Trump himself have endorsed the coin as “the official Trump meme by President Donald J. Trump.”
“Trump memes are intended to serve as an expression of support for and engagement with the ideals and beliefs embodied by the symbol ‘$Trump’ and related artwork, and are not intended or intended to be the subject of Trump memes. Investment opportunity, investment contract, or security of any kind. GetTrumpMemes.com is not political and has no affiliation with any political campaign or any political office or government agency,” according to website data.
These coins are tracked solana Blockchain, and the website officially claims that this cryptocurrency is not associated with any political campaign, office, or government agency.
Investors in the crypto market have always raised primary concern about the legality and authenticity of digital assets or NFTs. This move by Trump is one of the first steps for the incoming president to support the meme coin.
So far, meme coins have delivered staggering returns to investors, but given the general volatility of the crypto market, investments should be made after careful consideration, due diligence, and solid financial advice.
Disclaimer: The views and recommendations given above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before taking any investment decision.
