By Joshua Tosin Ogunsakin 
President-elect, Donald Trump, has introduced his own cryptocurrency, $TRUMP, triggering a buying frenzy that reportedly boosted its market capitalisation to nearly six billion dollars.
In an announcement posted on his Truth Social platform and X, Trump revealed the meme coin was designed to leverage the appeal of viral trends, personalities, or movements.
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” he wrote.
Meme coins, which hold no intrinsic economic or transactional value, are often viewed as speculative trading tools.
The official site of the coin describes it as a tribute to Trump’s resilience: “This Trump Meme celebrates a leader who doesn’t back down, no matter the odds.”
This article by Tribune Online presents quick facts you should know about the $TRUMP meme coin:
1. Official Launch
President-elect Donald Trump launched the $TRUMP meme coin on Friday through his Truth Social platform and X.
2. Purpose
The coin is a “meme coin,” designed to capitalise on the popularity of viral trends, movements, or personalities.
3. Market Impact
The coin’s market capitalisation surged to nearly $6 billion shortly after its launch, as reported by CoinMarketCap.com.
4. Trump’s Endorsement
Trump referred to the coin as a celebration of “WINNING” and resilience, highlighting its symbolic connection to his leadership style.
5. Nature
Meme coins generally hold no economic or transactional value and are often associated with speculative trading.
6. Initial Supply
The $TRUMP coin launched with an initial supply of 200 million tokens, with plans to release an additional 800 million over the next three years.
7. Project Partners
The launch involved Fight Fight Fight LLC and CIC Digital LLC, the latter of which had previously worked with Trump on NFT ventures.
8. Part of a Merchandise Strategy
The $TRUMP meme coin follows other Trump merchandise efforts, including colognes, watches, and commemorative coins celebrating his election victory.