Trump crypto coin surges 19,000 percent Overnight, reaches USD36B market cap
Date
1/20/2025 3:56:39 AM
(MENAFN) A new cryptocurrency launched by President-elect Donald Trump has seen an astonishing surge in value, skyrocketing by 19,000 percent from its opening price in just one day. The Trump-branded token, introduced on Saturday, quickly gained attention after Trump promoted it on social media platforms Truth Social and X, inviting users to join his "Trump community."
Initially priced at USD0.1824, the token surged to USD36.6 by 06:00 GMT on Sunday, pushing its market capitalization to a remarkable USD36 billion. With trading volume already exceeding USD14 billion, the coin has become a major sensation in the meme coin market, where digital tokens typically lack real-world value but thrive on viral appeal.
CIC Digital LLC, Trump’s company, owns 80 percent of the token's supply, which currently consists of 200 million tokens. Plans to increase the total supply to 1 billion tokens over the next three years have been outlined on the project's website.
Trump's son, Eric, expressed pride in the coin's success, calling it "the hottest digital meme on earth" in a post on X.
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