The price of Trump’s new cryptocurrency rises before the inauguration Donald Trump

Donald Trump launched a cryptocurrency called “Meme Coin” before his inauguration for a second term as President of the United States, naming it after Trump.

Launch announced on Social truth and X Friday night. assets since then rose In value, it more than tripled the price from about $20 per token to more than $70, with at least $24 billion in trading volume as of Sunday morning and more than $14 billion in market cap.

A “Meme coin“It is a type of cryptocurrency inspired by trends such as internet memes without any inherent utility, and is often vulnerable to price fluctuations and crashes. ‘Hawk Tuah Girl’ Meme Coin.” decreased 95% Shortly after its release last month, its market capitalization fell from $500 million to $25 million, with investors… Submit complaints With the SEC for insider trading.

The cryptocurrency community has been eagerly anticipating Trump’s second term, with favorable regulatory environments expected and Trump claiming that he intends to make the United States the “crypto capital of the planet.”

The president-elect has risen nominated Paul Atkins, a well-known cryptocurrency enthusiast who has served as co-chair of the cryptocurrency advocacy group Digital Chamber’s Token Alliance since 2017, will serve as SEC Chairman.

Trump has too a promise to issue an executive order once he takes office to create a cryptocurrency advisory board with up to 20 members.

The speculative nature of cryptoassets has raised concerns about a potential bubble, where political endorsements and support inflate asset prices beyond fundamental values ​​and do not reflect the risks associated with investments.

“Ironically, strong political and governmental support for cryptocurrencies poses a threat to the spirit of decentralization and could ultimately undermine the appeal of crypto assets.” books Larisa Yarovaya, associate professor of finance and director of the Center for Digital Finance at Southampton Business School, told The Guardian earlier this month. “If the SEC turns a blind eye in 2025, consumers may be left completely unprotected from financial losses — especially when another meme bubble bursts.”

According to Trump Meme Coin WebsiteA Trump-owned company called CIC Digital LLC owns 80% of the coin’s supply of 200 million tokens, which is expected to grow to 1 billion over three years.

Previously for Trump Released payments of cryptocurrency trading cards during his presidential campaign, generating more than $4 million per issue in gross revenue. His sons Eric Trump and Donald Trump Jr. also launched a cryptocurrency venture, World Liberty Financial, in 2024. Raising concerns From an overt conflict of interest.

Leading crypto companies flocked At least $10 million At Trump’s inauguration box.

The meme coin website included a Disclaimer It states: “Trump memes are intended as an expression of support for and reaction to the ideals and beliefs embodied by the symbol “$TRUMP” and associated artwork, and are not intended to be or constitute the subject of, investment opportunity, investment contract, or security of any kind. GetTrumpMemes.com is not a political website and is not affiliated with any political campaign, political office or government agency.