New Trump Crypto Meme Coin Price Rises Ahead of Inauguration | Donald Trump

Donald Trump has launched a cryptocurrency “meme coin” ahead of his inauguration for a second term as US president, called $Trump.

He announced the launch on The truth Social and X Friday evening. The asset has the page skyrocketed in value, more than tripled in price from about $20 per token to more than $70, with at least $24 billion. in trading volume as of Sunday morning and more than $14 billion. in market value.

a “meme coin” is a type of cryptocurrency inspired by trends such as internet memes with no inherent utility, and is often susceptible to price fluctuations and crashes. The “Hawk Tuah Girl” meme coin dropped 95% shortly after its release last month, down from a market cap of $500m. to $25 million with investors submission of complaints with the SEC for insider trading.

The cryptocurrency community has been eagerly anticipating Trump’s second term with an expected favorable regulatory environment, and Trump claims that he intends to make the US the “crypto capital of the planet”.

The president-elect has nominated Paul Atkins to serve as chairman of the Securities and Exchange Commission (SEC), a well-known crypto enthusiast who served as co-chair of the crypto advocacy group Digital Chamber’s Token Alliance since 2017.

So has Trump promised to issue an executive order once in office to create a crypto advisory board with as many as 20 members.

The speculative nature of crypto-assets has raised concerns about a potential bubble, where political endorsements and support inflate asset prices far beyond fundamental values ​​and do not reflect the risks associated with investments.

“Strong political and governmental endorsements of crypto paradoxically pose a threat to its decentralization ethos and may ultimately undermine the appeal of cryptoassets,” Larisa Yarovaya, associate professor of finance and director of the Center for Digital Finance at Southampton Business School, wrote for the Guardian previously on the month. “If the SEC turns a blind eye in 2025, consumers could be left completely unprotected from financial loss — especially when another meme coin bubble bursts.”

According to the Trump meme coin websitea Trump-owned company called CIC Digital LLC owns 80% of the coin’s supply of 200 million. tokens, which are expected to grow to 1 billion. over three years.

Trump has in the past released batches of crypto trading cards during his presidential campaign, generating over $4 million per publication in total revenue. His sons Eric Trump and Donald Trump Jr also launched a cryptocurrency venture, World Liberty Financial, in 2024, causes concern of an obvious conflict of interest.

Leading crypto firms have poured at at least $10 million into Trump’s inauguration fund.

The meme coin website featured a disclaimer stating: “Trump Memes are intended to serve as an expression of support for and commitment to the ideals and beliefs embodied in the “$TRUMP” symbol and associated artwork and are not intended to be, or to be the subject of , an investment opportunity, investment contract or security of any kind. GetTrumpMemes.com is not political and has nothing to do with any political campaign or any political office or government agency.”