US President-elect Donald Trump has launched his own meme coin • AFP Photo credit: JIM WATSON
By mid-morning on Saturday, the market capitalization for $TRUMP stood at nearly $6 billion.
US President-elect Donald Trump has launched his own cryptocurrency, appropriately called $TRUMP, sparking feverish buying that sent its market capitalization soaring on Saturday to several billion dollars.
In a message posted on his Truth Social platform and X, Trump unveiled the so-called meme coin, which is designed to capitalize on the popularity of a certain personality, movement or viral internet trend.
Meme coins have no economic or transactional value, and are often seen as a means of speculative trading.
“This Trump Meme celebrates a leader who doesn’t back down, no matter the odds,” says the coin’s official site, which makes reference to the assassination attempt against the Republican in July 2024.
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