President of the United States Donald Trump has launched his own ‘meme coin’ cryptocurrency called $TRUMP. The launch sparked a buying frenzy propelling the currency’s capitalization to several billion dollars. President Trump’s wife, Melania, followed the announcement, launching her own cryptocurrency on Sunday, January 20.
The President’s personal account announced his new cryptocurrency on Truth Social, and X, saying “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!”
Experts and industry analysts assert that meme coins capitalize on the popularity of internet moments or celebrities.
Trump’s meme coin announcement seemingly reassured the markets
“Meme coins” typically serve as tools for speculative trading and hold little to no economic or transactional value. President Trump announced the meme coin on his official social media platforms, which seemingly reassured the market despite any concerns.
The crypto community is skeptical of the legitimacy of the “meme coin” $TRUMP coin and its connection to the president. Trump’s use of CIC Digital LLC, a company he had previously engaged for crypto-related ventures, is another contributing factor to market reassurance.
According to CoinMarketCap.com, $TRUMP’s market capitalization stood at $6 Billion by Saturday morning. As of now, no details have emerged regarding the profit that Trump and Fight Fight Fight LLC will make from the meme coin’s release.
My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
The cryptocurrency’s official website announced that 200 million meme coins were originally issued, and Fight Fight Fight announced 800 million more will be issued over the next three years.
President Trump’s administration likely to be heavily ‘crypto-friendly’
President Trump’s administration will likely implement policies favorable to cryptocurrency. The intent is to fulfill the goal of establishing America as “the crypto capital of the planet.” Trump himself along with his sons, Eric and Donald Jr, are launching a new crypto-related venture called World Liberty Financial.
Trump’s inauguration, and seeming friendliness toward crypto, already caused the value of Bitcoin to skyrocket past its record value. Some expect the Trump administration to go as far as to execute government buy-ins. These will stabilize price swings, and boost some coins’ legitimacy.
The Official Melania Meme is live!
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
Political experts and analysts suggest that the new administration could help Congress consider the contentious legislation proposed by Wyoming Republican Senator Cynthia Lummis. Sen. Lummis has advocated for the creation of a Bitcoin reserve. Many experts believe that the powerful cryptocurrency lobby could influence favorable legislation under the incoming Trump administration.
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