Trump’s meme coin surpasses $13b market capitalization
A new meme coin launched by President-elect Donald Trump over the weekend has quickly reached a market capitalization of $13 billion, marking his latest venture into the world of cryptocurrency and merchandise ahead of his inauguration.
Trump announced the debut of his meme coin, $TRUMP, in a Truth Social post on Friday. He explained that the cryptocurrency celebrates his “WINNING” the presidential election and his upcoming swearing-in ceremony.
The price of $TRUMP surged by over 300% by Saturday morning and continued to climb into Saturday night.
By Sunday noon, it was trading at just over $65, giving the coin a market cap of $13.3 billion, according to CoinMarketCap. Early Sunday, the price briefly surpassed $75, pushing the total market cap of all tokens in circulation to $15 billion.
The coin, hosted on the Solana blockchain, has an initial supply of 200 million coins, with plans to expand to 1 billion over the next three years, as outlined on the coin’s official website.
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