The President-elect’s memecoin, Trump Memes, uses the symbol $TRUMP|@realDonaldTrump|X
The incoming President launched his own memecoin, $TRUMP, over the weekend, which appeared to have surpassed over $50 billion in value in just 48 hours. Launched Friday on the Solana blockchain, the crypto asset initially soared over 300%. It reached $75 per token before stabilizing at $46 as of Sunday evening.
$TRUMP launched with a 200-million token supply and plans to expand to 1 billion over three years. Trump-affiliated entities CIC Digital LLC and Fight Fight Fight LLC control 80% of these tokens, reaping trading revenue but restricted from immediate sales.
Adding to the frenzy, Melania Trump launched her own token yesterday, $MELANIA, which reached a market cap of $5 billion in hours. However, $TRUMP fell more than 35% on the news.
With $TRUMP and $MELANIA coins now on the market, Trump’s wealth, including crypto, real estate, and social media ventures, places him among the world’s 25 wealthiest individuals.