Trump-themed meme coin soars to $36 billion valuation overnight
Donald Trump’s latest meme coin experienced a remarkable increase, reaching a market capitalization exceeding $36 billion overnight, according to crypto trackers. Read Full Article at RT.com
TroibNews 
The official meme token for the US president-elect has seen a dramatic increase in value within just 24 hours.
The new Trump cryptocurrency experienced a meteoric rise, jumping an impressive 19,000% from its initial price, as indicated by cryptocurrency tracking data released on Sunday.
President-elect Donald Trump announced the token's launch early Saturday through posts on Truth Social and X, where he invited users to join his “Trump community.”
This digital asset, categorized as a meme coin—which typically lacks inherent real-world value—began trading at an opening price of $0.1824 on Saturday morning.
By 06:00 GMT Sunday, the price had skyrocketed to $36.6, resulting in a fully diluted market capitalization of $36 billion, according to information from Dexscreener. The trading volume has also exceeded $14 billion.
The coin is primarily owned by Trump’s company, CIC Digital LLC, which holds 80% of its supply. Currently, there are 200 million tokens available, with plans to expand to 1 billion over the next three years, as outlined on the project’s website.
Eric Trump, the president-elect’s son, celebrated the token's success, stating on X: “I am extremely proud of what we continue to accomplish in crypto. $Trump is currently the hottest digital meme on earth.”
Nonetheless, Trump’s choice to launch a cryptocurrency just days before his inauguration has attracted criticism from ethics advocates.
“It is absolutely wild,” said Jordan Libowitz, vice president for communications at Citizens for Responsibility and Ethics in Washington.
“After decades of seeing presidents-elect spend the time leading up to inauguration separating themselves from their finances to show that they don’t have any conflicts of interest, we now have a president-elect who, the weekend before inauguration, is launching new businesses along with promises to deregulate… those sectors in a way to just blatantly profit off his own presidency,” he added.
The introduction of Trump’s meme coin has raised concerns regarding its potential effects on his incoming administration’s stance on cryptocurrency. Crypto firms have already contributed at least $10 million to Trump’s inaugural fund, and several executives are anticipated to be present at his swearing-in ceremony on Monday.
Navid Kalantari for TROIB News
The new Trump cryptocurrency experienced a meteoric rise, jumping an impressive 19,000% from its initial price, as indicated by cryptocurrency tracking data released on Sunday.
President-elect Donald Trump announced the token's launch early Saturday through posts on Truth Social and X, where he invited users to join his “Trump community.”
This digital asset, categorized as a meme coin—which typically lacks inherent real-world value—began trading at an opening price of $0.1824 on Saturday morning.
By 06:00 GMT Sunday, the price had skyrocketed to $36.6, resulting in a fully diluted market capitalization of $36 billion, according to information from Dexscreener. The trading volume has also exceeded $14 billion.
The coin is primarily owned by Trump’s company, CIC Digital LLC, which holds 80% of its supply. Currently, there are 200 million tokens available, with plans to expand to 1 billion over the next three years, as outlined on the project’s website.
Eric Trump, the president-elect’s son, celebrated the token's success, stating on X: “I am extremely proud of what we continue to accomplish in crypto. $Trump is currently the hottest digital meme on earth.”
Nonetheless, Trump’s choice to launch a cryptocurrency just days before his inauguration has attracted criticism from ethics advocates.
“It is absolutely wild,” said Jordan Libowitz, vice president for communications at Citizens for Responsibility and Ethics in Washington.
“After decades of seeing presidents-elect spend the time leading up to inauguration separating themselves from their finances to show that they don’t have any conflicts of interest, we now have a president-elect who, the weekend before inauguration, is launching new businesses along with promises to deregulate… those sectors in a way to just blatantly profit off his own presidency,” he added.
The introduction of Trump’s meme coin has raised concerns regarding its potential effects on his incoming administration’s stance on cryptocurrency. Crypto firms have already contributed at least $10 million to Trump’s inaugural fund, and several executives are anticipated to be present at his swearing-in ceremony on Monday.
Navid Kalantari for TROIB News
