In a bold, unexpected move that lit up the cryptocurrency world, President-elect Trump has officially launched his own meme coin—just days before his inauguration. The announcement stunned markets Friday night and set off a digital frenzy across trading floors and social media feeds alike.
Trump Breaks the Internet with $TRUMP Coin
“President-elect Trump took the $3.5 trillion cryptocurrency industry by surprise Friday night, announcing the launch of his own crypto token called $TRUMP coin.”
And surprise it was. In less than 24 hours, the newly minted coin catapulted from a few cents to $33.87, a jaw-dropping 18,000% increase. Although the price has since cooled to around $26, the token’s market cap is now over $5 billion—making it one of the 30 largest cryptocurrencies in the world.
A Crypto President in the Making
“The announcement comes just days before Trump’s inauguration on Monday.”
The timing of this launch speaks volumes. Trump announced the $TRUMP coin on both his Truth Social and X accounts at 9:45 p.m. ET Friday, as many top names in crypto gathered at the inaugural Crypto Ball in Washington, D.C., to celebrate his return to the White House.
“Trump is promising to be the most crypto-friendly president in history and has vowed to reverse the Biden administration’s regulatory crackdown on the sector, which has resulted in many U.S. companies moving operations offshore.”
Among the Ball’s attendees were CEOs of major crypto platforms, newly appointed Cabinet members, and Donald Trump Jr.
A Wild Night at the Crypto Ball
“President-elect Trump rings the opening bell on the trading floor of the New York Stock Exchange Dec. 12, 2024, in New York City.”
As the coin’s launch reverberated across the room, many attendees initially questioned whether Trump’s accounts had been hacked. Meanwhile, Donald Trump Jr. was tucked away in an exclusive VIP section, and it remains unclear whether he engaged in any direct discussion about the coin during the event.
Trump’s official message read:
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community,” followed by a link allowing users to buy the coin via debit card or other cryptocurrencies.
Crypto Hype or Cash Grab?
“Trump has not commented on the coin since the original announcement.”
While Trump himself stayed silent post-announcement, his son Eric Trump chimed in Saturday via X, calling the coin the “hottest digital meme on earth.” The president-elect’s account later reposted Eric’s comments.
“Two spokespeople for the Trump transition team did not respond to requests for comment.”
It’s not just the coin’s explosive price surge that’s stirring conversation—it’s the fact that it’s a meme coin, a volatile asset class often created as a joke, like $PEPE, which is inspired by a cartoon frog and boasts a market cap of over $7 billion.
Risk, Reward, and Red Flags
“Sophisticated investors are often wary of meme coins, not just because of their wild price swings, but their propensity for being associated with scammers looking to make a quick buck off exuberant investors.”
Just last month, influencer Haliey Welch—known as the “Hawk Tuah Girl”—faced lawsuits after her meme coin, $HAWK, crashed shortly after launch, causing major losses among investors.
And questions are already surfacing around $TRUMP coin’s ownership.
“According to the coin’s website, affiliates of the Trump Organization, CIC Digital LLC and Fight Fight Fight LLC, collectively own 80% of the coins in circulation, meaning as the price of the token rises, the owners will see significant gains. The website does not mention who specifically will be on the receiving end of the profits.”
Such concentrated ownership could be a magnet for scrutiny from lawmakers like Senator Elizabeth Warren, who has vocally criticized both crypto and Trump in the past.
Flashbacks to $DJT and Shkreli’s Involvement
Last summer, another meme coin, $DJT, rumored to be associated with the President-elect, was introduced on the Solana blockchain. The coin was created by convicted fraudster ‘Pharma Bro’ Martin Shkreli and not Trump or his son, Barron, as Shkreli had claimed.
This isn’t Trump’s first association with meme coin mania, though this time the launch appears official—and far more impactful.
Praise, Criticism, and Real Profits
“Trump’s announcement has received mixed reviews so far.”
Some crypto enthusiasts are heralding the move as a major leap forward for mainstream adoption, praising its likely impact on Solana’s popularity. Others are not so convinced.
“Others are publicly criticizing it, some even calling it a gratuitous cash grab by Trump, who has already received millions from the crypto industry in exchange for promises of deregulation, and making America the ‘crypto capital of the planet.’”
Despite the controversy, major platforms are getting on board.
“But major exchanges, such as Kraken, are already making the token available to trade on their platforms. It’s unclear whether Coinbase, the nation’s largest cryptocurrency exchange, will follow suit.”
And traders are already cashing in.
“Meanwhile, investors in Trump’s token have already made massive returns from the rapid price increase. One trader made $1.1 million from an initial investment of $150,000, and another turned $800 into $310,000, according to the financial newsletter The Kobeissi Letter.”
The Trump Effect on Crypto Culture
“Whether you agree with the move or not, the fact of the matter is that the leader of the free world just essentially put his stamp of approval on Solana and on meme culture,” said Frank Chaparro, director of special projects at crypto publication The Block.
And the timing? Possibly not coincidental.
“Perhaps coincidentally, Trump chose to introduce the meme coin on SEC Chairman Gary Gensler’s final day in office.”
With Gensler stepping down, Trump has named lawyer Paul Atkins—considered far more crypto-friendly—as his replacement.
With Trump’s bold foray into the meme coin scene, he’s not just making headlines—he’s redrawing the map of crypto politics. Whether it’s a revolution or just a flash in the blockchain, one thing is clear: the $TRUMP coin is already rewriting the rules.
