Updated on January 18, 2025 at 3:56 PM IST
During his presidential campaign, Donald Trump consistently presented himself as a proponent of crypto.
Article Highlights
- Donald Trump announced the launch of a new cryptographic token called “$TRUMP”.
- Dubbed the new official Trump meme, Donald Trump said in his X post that “it’s time to celebrate everything we stand for: WINNING!”
- Within the first hours of its launch, the market capitalization of the new coin reached a whopping $4.25 billion, an increase of over 220%.
In his post, Trump urged his community to get $TRUMP now at gettrumpmemes.com. The new coin was launched on the Solana network.
The claim window for the Trump Meme coin will close in the next 48 hours. The new token is inspired by Trump’s rallying cry “Fight, fight, fight,” which he uttered after suffering an assassination attempt at one of his campaign rallies where the assassin shot him but the bullet had whizzed past his right ear, bruising the outside. part.
Of the billion coins that would be gradually produced over the next three years, the token started with 200 million. Fight Fight Fight LLC, which was incorporated in Delaware just days ago, and CIC Digital LLC, an associate of The Trump Organization, own 80% of the tokens.
According to various websites that track the coin, the current price is between $17 and $18 per coin.
Trump inauguration ceremony
Donald Trump will assume the office of 47th President of the United States after the inauguration ceremony to be held on Monday, January 20. The ceremony marks the formal transfer of power from the late president to the new one.
Trump previously served as the 45th president between 2017 and 2021.
Trump remains a supporter of cryptocurrency
During his presidential campaign, Donald Trump consistently portrayed himself as a proponent of crypto with promises of easing regulatory burdens and making it easier to trade virtual currency. His campaign toured him with promises of being a “crypto president.”
According to a Reuter report, Trump plans to reduce the regulatory burden faced by cryptocurrency companies and promote the adoption of digital assets once he takes office.
Bitcoin and other cryptocurrencies exploded after his election as the next president of the United States. His campaign and statements inspire confidence among crypto investors and businesses, marking a sharp rise in the price of popular crypto coins to record highs.
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