Aside from committing to give TikTok a 90 day reprieve from the US Ban, incoming US President Donald Trump decided to launch his own meme coin called $Trump. The meme coin was made possible by CIC Digital LLC, which is an affiliate of the Trump organization and previously sold Trump-branded shoes and fragrances. Yes, you heard that right.
As Trump is set to return to the Presidency, $Trump reached a valuation of nearly $5.5 billion according to CoinMarketCap.com. “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” Trump wrote on his social media platform Truth Social after announcing the meme coin last January 17.
So far, 200 million of the meme coins have been issued, with plans to issue another 800 million in the next 3 years. $Trump started selling for $10 and soared as high as $70 as of Sunday morning (January 19). From there, its value dipped after Trump’s wife Melania unveiled her own meme coin, which was trading initially for $5 last January 19.
As much as there’s hype for the meme coin–especially with Trump returning to power as president of the United States–the Trump Meme included a disclaimer saying that it is not intended to be an investment opportunity and it has nothing to do with anything political. Like all meme coins, we caution you against investing on such unless you are aware of the risks associated with it.