Before taking oath as President on January 20, Donald Trump has created a stir in the cryptocurrency market by announcing the $TRUMP meme coin. The market cap of the $TRUMP meme coin increased rapidly by 220 percent and reached $4.25 billion within a few hours.
In a post on Twitter, Trump introduced the coin as his “official Trump meme.” The coin is inspired by Trump’s famous “Fight, Fight, Fight” slogan, which he coined after surviving an assassination attempt at a campaign rally.
Trump wrote in the message, “This is a time to celebrate everything we stand for: winning! Join my exclusive Trump community. GET YOUR $TRUMP NOW.” Along with this he also shared a link to buy crypto coin.
This token, launched on the Solana network, became a topic of discussion especially among Trump supporters on social media. The coin’s trading volume approached $1 billion and the coin’s price rose from an initial price of $0.18 to $7.1, The Economic Times reported.
Trump and cryptocurrency
Newly elected US President Donald Trump may pass several cryptocurrency policies during his upcoming second term in the White House. During his campaign before the presidential elections, Trump promised to become a “crypto president”. According to Reuters sources, after assuming office he plans to sign an executive order to create a crypto advisory council.
