The $TRUMP meme coin, launched by U.S. President-elect Donald Trump just three days before his inauguration as the 47th President of the United States, has skyrocketed in value from an initial price of $1.5 on Friday to an impressive $70 by Sunday.
The cryptocurrency, created in collaboration with CIC Digital LLC—an affiliate of the Trump Organization—saw its market capitalization climb to $14.1 billion, with a trading volume of $14 billion. According to CoinMarketCap.com, the total supply of $TRUMP is 999.99 million tokens, with 200 million currently in circulation.
CIC Digital LLC, which has previously marketed Trump-branded products such as shoes and fragrances, partnered with Fight Fight Fight LLC, a Delaware-based company formed earlier this month, to manage the venture. Together, these entities hold 80% of the $TRUMP tokens, though Trump’s personal earnings from the cryptocurrency remain undisclosed.
Meme coins, often tied to viral internet trends or movements, are known for their high volatility and lack of intrinsic value. Critics have raised concerns about the ethical implications of a sitting president launching a cryptocurrency, particularly as Trump advocates for crypto deregulation.
Anthony Scaramucci described the venture as “Idi Amin level corruption,” highlighting potential conflicts of interest as Trump’s administration plans policies that could benefit the crypto sector. Trump has previously sold NFTs and pledged to make the U.S. a leader in cryptocurrency, including promises of government Bitcoin stockpiling.
On social media, opinions remain divided. An X user, @I_Am_DTaylor, asked, “A (soon to be) sitting president launching a crypto token—is it innovation or a massive conflict of interest? Is it good or bad for crypto?”
While Trump initially expressed skepticism about cryptocurrency, he has since embraced the sector. At a Bitcoin conference in Nashville in 2024, he declared that America would become “the crypto capital of the planet” under his leadership.
The rapid rise of $TRUMP has drawn widespread attention, reflecting the volatile yet impactful nature of meme coins within the broader cryptocurrency landscape.
