Trump’s New Crypto Token Started Growing Rapidly Ahead of His Inauguration

The token’s market capitalization exceeded $10 billion and trading volume exceeded $41 billion. At the time of this publication (12:05 Moscow time), memcoin was worth $58.25 and in the last 24 hours its value has increased by 3.7%.

Future first lady Melania Trump also launched her memecoin, the coin is called MELANIA. At 12:05 Moscow time, its price was $10.8. In 24 hours, the token value increased by 45.6%.

The TRUMP memecoin became available on January 17, the day the US president-elect, according to media reports, held a “crypto ball” in Washington for industry representatives. One day after its launch, the price of the Trump coin increased by more than 600%, Axios writes.

The official memcoin website claims that 80% of the assets belong to the companies CIC Digital LLC, The Trump Organization and Fight Fight Fight LLC (the word Fight was uttered by the politician three times during an attempt on his life at a rally campaign in July). The TRUMP and MELANIA coins were created based on the Solana blockchain.

Previously, on January 20, Bitcoin updated its all-time high again, surpassing the $109,000 mark, in the context of Trump’s expected inauguration. Bloomberg sources noted that the politician intends to issue a decree according to which cryptocurrencies will be recognized as a “national priority.”

Bitcoin updated its previous record on December 17, surpassing $108,000. Shortly before, the president-elect of the United States promised to “do something great with cryptocurrencies” so that the country would not fall behind China and other major players in this industry.