Donald Trump’s recently introduced meme coin, $TRUMP, has experienced remarkable growth, achieving a market cap of around $9 billion after hitting a peak exceeding $15 billion on Sunday. The coin, which was revealed on Truth Social prior to Trump’s second presidential inauguration, surged by more than 300% shortly after its debut. By Sunday evening, its price stabilized at just above $46, resulting in a market cap of $9. 36 billion. Operating on the Solana blockchain, the $TRUMP coin is initially capped at 200 million tokens, with aspirations to increase this supply to 1 billion over the next three years. The incredible rise of the $TRUMP token was matched by significant trading activity, reaching a 24-hour trading volume of $36. 15 billion. Nevertheless, developers, including Trump’s associates from CIC Digital LLC and Fight Fight Fight LLC, have made it clear that $TRUMP isn’t intended as an investment opportunity nor does it have ties to any political campaign or government agency.

Regardless, its launch has generated interest, especially given Trump’s ongoing political influence and support from figures in the cryptocurrency industry. Trump’s meme coin is the latest in a series of merchandise initiatives, which have featured luxury products like Trump-branded watches, perfumes, and NFTs. His administration has also indicated plans to lessen regulatory challenges for crypto firms and establish a Bitcoin reserve. The heightened anticipation surrounding Trump’s potential second term, along with his favorable position on cryptocurrencies, continues to stimulate optimism in the crypto market. Furthermore, Melania Trump has ventured into the crypto realm with her coin, $MELANIA, also based on the Solana blockchain. This collaboration between the Trumps aligns with their vision for a thriving digital economy as they move toward the new administration.