The Independent is committed to providing critical reporting on key issues like reproductive rights, climate change, and technology. Your support helps fund our on-the-ground journalists who cover all sides of the story without paywalls, ensuring quality journalism is accessible to everyone. Recently, President-elect Donald Trump launched his own meme coin, the $TRUMP, which has already gained significant attention in the cryptocurrency world, reaching a Market cap of $6.8 billion just after its release. Traders saw massive profits, with one investment skyrocketing in value within minutes. This launch coincides with the upcoming inauguration, drawing both excitement and controversy as attendance among Democrats wanes. Your contributions to The Independent make a real difference in days like these.
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In a remarkable turn of events, President-elect Donald Trump has introduced his very own meme coin, sparking excitement throughout the cryptocurrency Market. This new coin, known as “$TRUMP,” is intended to embody the spirit of “winning” that Trump often promotes.
What you need to know about $TRUMP
The $TRUMP meme coin officially launched this past Saturday and has quickly gained traction, achieving an impressive Market capitalization of $6.8 billion. In a post shared on X, Trump invited followers to join his “very special Trump Community” and celebrate through this new digital currency.
Initial response and soaring value
The reaction from cryptocurrency traders has been overwhelmingly positive. Reports from The Crypto Times indicate that one lucky trader made a staggering windfall of $20 million within just an hour of its launch. Starting at $0.18, the price of $TRUMP skyrocketed to a peak of $3.70 before settling at an astonishing $7.10. This remarkable rise equates to a 4,000% increase since its inception.
The technology behind $TRUMP
Developed by Solana (SOL), the $TRUMP coin launched with 200 million tokens, anticipating a total supply of 1 billion over the next three years. Interestingly, one trader spent $1.1 million to buy nearly 6 million coins, which were worth $23 million just 90 seconds later, showcasing the incredible investment potential of this new meme coin.
Looking ahead
As Trump prepares for his inauguration alongside Vice President-elect JD Vance on Monday, the ceremony has been moved indoors due to exceptionally cold temperatures. Meanwhile, notable figures, including Michelle Obama, have opted to skip the event, adding to the growing list of Democrats choosing not to attend.
This launch not only marks a significant moment for Trump and his supporters but also highlights the ever-evolving landscape of cryptocurrency and its influence on the political world.
What is the Trump meme coin?
The Trump meme coin is a new cryptocurrency that was created to capture the fun and excitement around memes related to Donald Trump. It aims to engage fans and collectors in the digital currency space.
Why did Trump decide to launch a meme coin?
Trump’s team sees the meme coin as a way to connect with his supporters and harness the growing trend of meme culture in the crypto world. It can also be a fun way to raise funds and promote his brand.
How can I buy the Trump meme coin?
You can buy the Trump meme coin through various cryptocurrency exchanges. Just make sure to set up a digital wallet and follow the exchange’s process to purchase the coin safely.
Is the Trump meme coin worth investing in?
Like any cryptocurrency, the value of the Trump meme coin can be very volatile. It’s important to research and understand the risks before deciding to invest your money.
What can I do with the Trump meme coin?
You can hold the Trump meme coin as an investment, trade it for other cryptocurrencies, or use it in specific online communities that accept it. It’s mainly meant to be a fun way to engage with fellow supporters and meme enthusiasts.
