Trump’s $TRUMP Meme Coin Hits $13 Billion Market Cap Ahead of Inauguration

NEW YORK, N.Y. — President-elect Donald Trump launched a new meme coin, $TRUMP, on Friday, which has surged to a market capitalization of $13.2 billion by Sunday morning, according to CoinMarketCap. The cryptocurrency, developed on the Solana blockchain, marks Trump’s latest foray into digital assets and merchandise sales as he prepares for his inauguration.

Trump announced the launch on his social media platform, Truth Social, framing the coin as a celebration of his election victory and upcoming presidency. The price of $TRUMP skyrocketed by over 300% within 24 hours, reaching $65 by Sunday morning. The coin’s supply is capped at 200 million initially, with plans to expand to 1 billion over the next three years.

According to state filings, 80% of the unreleased tokens are owned by Trump Organization affiliates CIC Digital LLC and Fight Fight Fight LLC, both of which will receive revenue from trading activity. The coin’s website includes a disclaimer stating that $TRUMP is not an investment opportunity or security and has no connection to political campaigns or government agencies.

Trump’s campaign has long been supported by billionaires with ties to the cryptocurrency industry. He has pledged to make the U.S. the “crypto capital of the planet” and plans to issue an executive order prioritizing cryptocurrency policy, including the creation of a bitcoin reserve. News of these plans pushed bitcoin prices above $105,000 on Friday, a near-month high.

The $TRUMP coin is part of a broader merchandise push by Trump, which includes high-end watches, sneakers, and NFTs. His NFT trading cards alone generated $7.2 million in licensing fees, while recent sales of signed guitars brought in $4.6 million.

Critics, including former Trump White House communications director Anthony Scaramucci, have raised concerns about the coin’s potential for misuse. “Now anyone in the world can essentially deposit money into the bank account of the President of the USA with a couple of clicks,” Scaramucci said.

Despite its disclaimer, the $TRUMP coin has drawn significant attention, with a 24-hour trading volume of $28.8 billion. The launch underscores Trump’s ability to leverage his brand and political influence in unconventional markets, even as questions about transparency and regulation persist.