Trump launches a meme coin before his inauguration

president-Elected Donald Trump He launched his own Mimi currencywhich sparked excitement from Cryptocurrency The scientist who reportedly left the currency with a market cap of $6.8 billion.
Newly elected US President He announced that he would launch his new official currency, “$TRUMP,” to celebrate the “win.”
In a post on X He wrote on Saturday: “The new official Trump meme is here! It’s time to celebrate everything we stand for: winning! Join the very special Trump community. Get your Trump now.

The response from the cryptocurrency market has been tremendous, according to Encryption timeswhere one trader received a windfall of $20 million within the first hour of its unveiling.
The price of the coin reportedly continued to rise after the announcement, from $0.18 to a high of $3.70, with Trump’s price currently at $7.10. This represents a 4,000 percent increase since its inception, with a market capitalization of $6.8 billion.
Solana (SOL) developed the coin, producing 200 million tokens for its launch – although the total supply will reach 1 billion in the next three years.
One trader bought nearly $6 million worth of TRUMP coins for roughly $1.1 million using USDC, according to Trumpy. Loconchine. After just 90 seconds, the investment value reached $23 million. They appear to have sold a small number, while they have 5.43 million remaining, giving them a profit of over $20 million.
The launch comes ahead of the inauguration of Trump and Vice President-elect J.D. Vance on Monday.
The ceremony was moved indoors to the Capitol Rotunda because the frigid temperatures expected in the nation’s capital are set to be the coldest. opening A day in four decades.
Meanwhile, the number of Democrats who have said they will not attend the inauguration is growing.
Michelle Obama recently announced that she would not attend the ceremony.
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2025-01-18 15:50:00