President-elect Donald Trump’s recently launched cryptocurrency, $TRUMP, has made waves in the crypto world and has skyrocketed in value as his inauguration weekend approaches. According to Fox Business, the value of $TRUMP shot up from just a few cents to $33.87 within 24 hours, marking an incredible gain of over 18,000%.
Adding to the excitement, Coinbase, one of the largest cryptocurrency exchanges in the US, announced that it would be listing the $TRUMP coin. The announcement was made on social media and drew mixed reactions.
The launch of $TRUMP on the Solana blockchain has quickly become the talk of the town, dominating social media platforms and causing a whirlwind of debates, confusion and FOMO (fear of missing out). The $TRUMP website reveals that 80% of the coin is controlled by CIC Digital, a subsidiary of the Trump Organization, along with a co-ownership called Fight Fight Fight.
Coinciding with Trump’s upcoming inauguration, the release of the meme coin has sparked further interest as speculation grows about the role the new administration will play in the future of cryptocurrency. Trump reportedly plans to issue executive orders regarding Bitcoin and the broader crypto industry on his first day in office or shortly thereafter.
One of the key points of his campaign was advocating for a more relaxed regulatory approach to digital currencies. Additionally, Trump has discussed the possibility of creating a strategic Bitcoin reserve as part of his crypto policy.
As Trump prepares to take power, the crypto world is eagerly waiting to see how his policies will shape the future of digital assets. The dramatic launch of $TRUMP is just the beginning, and many are closely watching to see what other developments unfold in the coming days.