Trump's Cryptocurrency Surges by 19,000 percent in One Day

2025-02-09 03:31:39

(MENAFN) A newly launched cryptocurrency backed by President-elect Donald Trump has witnessed an incredible surge, increasing by a staggering 19,000 percent in just one day, based on data from cryptocurrency trackers released on Sunday.

Trump introduced the token on Saturday through posts on Truth Social and X, urging followers to join his "Trump community" in supporting the coin.

The cryptocurrency, classified as a meme coin (a type of cryptocurrency lacking intrinsic real-world value), was initially priced at USD 0.1824 when it debuted on Saturday morning.

By 06:00 GMT on Sunday, the token's value had soared to USD 36.6, giving it a fully diluted market cap of USD 36 billion, as reported by Dexscreener. The trading volume reached over USD 14 billion.

The coin is predominantly controlled by Trump’s company, CIC Digital LLC, which owns 80 percent of the total supply. At present, 200 million tokens are circulating, with plans to expand the supply to 1 billion over the next three years, according to details on the project’s website.

Eric Trump, the former president's son, expressed his pride over the coin's success, posting on X, “I am extremely proud of what we continue to accomplish in crypto. USDTrump is currently the hottest digital meme on earth.”

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