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In a dramatic entrance into cryptocurrency markets, President-elect Donald Trump's newly launched meme coin has achieved remarkable success, reaching a market capitalization of $13.3 billion within 48 hours of its debut. The digital token, launched Friday night during a reported "Crypto Ball" in Washington, saw its value surge by over 300% in its first day of trading.
The cryptocurrency, hosted on the Solana blockchain, operates under a carefully structured supply model. The initial release limited circulation to 200 million coins, with plans to expand to 1 billion over three years. Notably, 80% of unreleased tokens are controlled by two entities: Trump Organization affiliate CIC Digital LLC and Fight Fight Fight LLC, a recently formed Delaware company.
Trading volume has been extraordinary, with $28.86 billion worth of $TRUMP tokens changing hands in a single 24-hour period. The price peaked at $75 early Sunday morning, pushing the total market cap briefly to $15 billion before settling around $65 by noon EST.
The launch coincides with Trump's broader embrace of cryptocurrency policy. Bloomberg reports that the president-elect is preparing to designate cryptocurrency as a "national priority" through executive order, which would include establishing a federal bitcoin reserve and creating a crypto advisory council to reduce regulatory burdens on the industry.
This venture adds to Trump's growing portfolio of post-election merchandise initiatives. Previous launches included high-end watches, NFTs, and limited-edition guitars, with NFT sales alone generating approximately $7.2 million in licensing fees. The $TRUMP token's website explicitly disclaims any connection to political campaigns or government agencies, positioning it as a celebratory asset rather than an investment vehicle.
"This is about WINNING," Trump declared in his Truth Social announcement, linking the token's launch to his election victory and upcoming inauguration. The cryptocurrency's success has contributed to broader market momentum, with the global crypto market adding approximately $1.8 trillion in value during 2024.
Industry analysts note the unprecedented nature of this launch, with Brady Dale of Axios observing, "No politician has ever given their supporters a way to monetize that support -- until now." The token's meteoric rise has potentially elevated Trump's paper wealth significantly, though the true value remains subject to market volatility and trading restrictions.
