President Donald Trump has confirmed the launch of his official meme coin, ‘TRUMP,’ though he admitted to reporters that he is unaware of its current market performance. On Tuesday, Trump briefly addressed the cryptocurrency, stating that while he had heard it was “very successful,” he had not personally monitored its progress.
The announcement sent shockwaves through the crypto market, with the TRUMP token initially falling by over 30% to $34.88 before recovering to its current value of $42.07.
TRUMP coin reaches $15 Billion market cap before MELANIA token’s launch
The TRUMP meme coin, created by Trump Organization affiliate CIC Digital LLC, entered the market just three days before Trump’s presidential inauguration. The coin experienced a significant surge, climbing from under $10 on Saturday morning to a peak of $74.59 over the weekend. By Monday, its value had corrected, with its market cap declining from $15 billion to approximately $8 billion.
When informed by reporters that the TRUMP token had generated billions of dollars since its launch, Trump appeared surprised, questioning the reported figures. Despite the substantial gains, he dismissed them as minor compared to the wealth of business figures present at the meeting, including Masayoshi Son, Sam Altman, and Larry Ellison.
The TRUMP token faced further volatility after launching a competing meme coin, MELANIA, reportedly backed by First Lady Melania Trump. Analysts believe both tokens are predominantly held by insiders close to the Trump family. Nonetheless, both cryptocurrencies have quickly gained traction, entering the top 100 coins by market value. MELANIA’s token has even surpassed the market value of Sam Altman’s Worldcoin.
Trump administration signals focus on Cryptocurrency policies
On his first day back in office, President Trump signed a series of executive orders addressing energy, immigration, infrastructure, and more. Among the most notable was his pardon of Ross Ulbricht, the founder of Silk Road, and 1,500 individuals connected to the January 6 Capitol events.
While Trump has not fulfilled promises regarding a Bitcoin strategic reserve, his administration is reportedly preparing to prioritize cryptocurrency regulation. David Sacks has been named as the new “crypto czar,” and a forthcoming executive order is expected to make digital assets a central policy focus.
TRUMP coin gains support from major exchanges
The TRUMP meme coin has quickly gained traction on major platforms, with exchanges such as Coinbase and Robinhood now listing the token. Despite early volatility, the token’s high profile and connection to the Trump name continue to attract significant attention from investors and the broader cryptocurrency community.