$TRUMP meme coin rakes in billions ahead of Donald Trump’s inauguration, spikes over 300% within hours after launch

$TRUMP meme coin: The cryptocurrency market witnessed an explosive rally after the newly launched $TRUMP meme coin sparked intense investor interest ahead of US President-elect Donald Trump's inauguration on January 20 to take oath as the 47th US President. The $TRUMP meme coin made an explosive $14.5 billion debut and rallied over 300 per cent within hours of its launch, hitting a market capitalisation (mcap) of $6 billion.

Donald Trump launched the official $TRUMP meme coin days before his second term as President of the United States. Trading volumes crossed $1 billion, and the coin’s value surged over 300 per cent within minutes. With the intense rally, the price of the $TRUMP coin reached $7.1, up from an initial $0.18. According to CoinMarketCap data, the meme coin was trading at $29, reflecting a remarkable 299 per cent increase from its debut price.

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Taking to microblogging platform ‘X’ (formerly known as Twitter), Trump introduced the coin as his “official Trump meme.” He wrote: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com — Have Fun!” (sic)"

$TRUMP meme coin takes crypto market by storm

The coin is inspired by Trump’s iconic “Fight, Fight, Fight” slogan, which he coined after surviving an assassination attempt at a campaign rally. Trump officially introduced the $TRUMP token through his Truth Social platform. The announcement quickly gained traction, with Trump urging investors to grab tokens via the official website before the 48-hour claiming window closed.

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Solana (SOL) developed the coin, creating 200 million tokens for its launch—although the overall supply will be one billion in the next three years. The coin was launched on Saturday morning. According to the website linked in the post on ‘X’, “$TRUMP are now freely tradeable on the blockchain.” The meme is thus likely linked to a meme coin, but nothing official is stated.

The website claimed that the image on the meme shows Trump's strength and courage after facing “death” in the assassination attempt during election campaigning. “On July 13, 2024, President Trump faced death and came up fighting! With his fist in the air and the iconic battle cry FIGHT FIGHT FIGHT, President Trump showed the world what a LEADER is made of.

Also Read: $TRUMP meme coin m-cap crosses staggering $6 billion; Here’s how it compares with gains of peer cryptos

His strength and courage ignited a movement, becoming the most memorable meme of the century. Now, you can get your piece of history. This Trump Meme celebrates a leader who doesn’t back down, no matter the odds. Join the Trump Community - we’re all about fighting for what matters,” the website states.

Trump's meme coin website mentioned the option of buying the $TRUMP in exchange for Solana (SOL). This marked a 14.73 per cent rise in Solana's market cap, which was $122.4 billion as of Saturday, January 18. Solana prices have gained 16 per cent in the last 24 hours. Solana trade volumes gained nearly 300 per cent on Saturday to $20.04 billion, with the price at $251.28 per token.