By Staff
Within hours of Donald Trump launching the $Trump meme coin on Truth Social, it eclipsed a market cap of $6 billion, sending the crypto world into a frenzy.
Many speculated that his social media accounts had been hacked, but as the dust settled, it became clear that it wasn’t a prank.
On his X account, the announcement read, “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. Go to gettrumpmemes.com — Have Fun!”
According to Axios, the coin made over $25 billion overnight. “While Trump was reportedly hosting a ‘Crypto Ball’ for the industry in Washington, the president-elect launched his own meme-linked cryptocurrency,” it reported.
Trump’s bullish approach toward cryptocurrency has sent prices soaring over the past few months, especially after Democrats “demonized” the space, as an article published on January 3, 2025, on bitcoinmagazine.com explained:
“For the last four years, under the Biden-Harris administration with total Democrat control, the U.S. government did their best to terrorize this industry and attack us. The overwhelming majority of the Democrat Party did not support Bitcoin and followed Elizabeth Warren’s lead in demonizing the industry and its participants. They weaponized the justice system to arrest Bitcoiners, tried to tax our unrealized gains, stopped pro-Bitcoin legislation from being signed into law, de-banked industry participants via Operation Chokepoint 2.0, refused to support Bitcoin in any meaningful way, and so much more.”
The launch comes just three days before the president-elect’s inauguration, which he recently announced would be moved indoors due to cold weather.
“I have ordered the inauguration address, in addition to prayers and other speeches, to be delivered in the United States Capitol Rotunda, as was done by Ronald Reagan in 1985, also because of very cold weather.”
