President-elect Donald Trump made headlines Friday with the launch of his new meme coin, $TRUMP, which has already surged to a $13 billion market cap. This marks Trump’s latest foray into cryptocurrency and merchandise sales as he gears up for his upcoming inauguration.
President-elect Donald Trump has unveiled a new cryptocurrency token that’s skyrocketing in value—and potentially padding his net worth—just ahead of his inauguration. This latest bold move adds to Trump’s history of unconventional promotions, which have included branded Bibles, gold sneakers, and diamond-encrusted watches.
“It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community,” Trump announced in a social media post late Friday, introducing the new tokens. The promotion features an image of Trump with his fist raised, accompanied by the words “FIGHT TIGHT FIGHT,” referencing his reaction to an attempted assassination at a political rally last July.
Encouraging supporters to “Have Fun!” Trump emphasized that the tokens are a way to show support, not a formal investment. According to the token’s website, they’re meant as a symbol of community rather than a financial asset.
Despite this, speculators have been diving in. Originally priced at $10 each, the Trump meme coins surged to about $72 by Sunday morning. Meme coins, a quirky and unpredictable corner of the crypto world, often start as jokes without intrinsic value but can see explosive price hikes if they gain enough buyers. Dogecoin, a cryptocurrency made famous by its Shiba Inu mascot and “much wow” memes, is one of the most notable examples.
However, meme coins also come with risks, as they’re sometimes exploited by scammers looking to cash in quickly, leaving unwary investors holding the bag.
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