1/19/2025–|Last updated: 1/19/202505:54 PM (Mecca time)
The market value of US President-elect Donald Trump’s cryptocurrency $TRUMP jumped after he launched it yesterday, making it among the 20 largest cryptocurrencies in terms of market value, and one of the most successful cryptocurrency launches.
In less than 24 hours, $TRUMP rose from just a few cents to $33.87, or 18,000%, before falling to $26 with a market cap of more than $5 billion.
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At the time of preparing this report, the currency continued to rise, as the rate of increase in its value in the last 24 hours reached 217.21% to $68.66, thus bringing the market value to $19.87 billion.
The announcement comes a day before Trump is inaugurated as President of America for a second term. Trump personally revealed the currency through his accounts on Truth Social and
Trump promised to be the most crypto-friendly president in history, and pledged to reverse his predecessor Joe Biden’s administration’s strict regulatory campaign on the sector, which led to many American companies moving their operations abroad.
Attendees at the event included CEOs of various crypto platforms, politicians, and a handful of Trump’s new Cabinet members and his son, Donald Trump Jr.
Many attendees of the ceremony were skeptical about the news, expecting that the president-elect’s accounts had been hacked.
The most famous meme
Trump has not commented on the currency since its announcement, but his son Eric Trump posted on the X website yesterday afternoon, Saturday, that the currency is “the most famous digital meme on the face of the Earth,” before the president-elect’s X account reposted his son’s comments.
The term (meme) means assets that gain their popularity from social media or references to them online, rather than through specific financial or artistic performance.
Experienced investors are often wary of meme coins, not only because of their high price fluctuations, but also because of their tendency to be associated with enthusiastic investors looking to make quick money.
