Trump’s Newly Launched Crypto Token Soars on Inauguration Day

Washington D.C., The Gulf Observer: US President Donald Trump’s newly launched crypto token, branded $TRUMP, has surged to more than $10 billion in market value, as excitement surrounding his crypto-friendly administration drove a surge in cryptocurrency prices. The so-called “memecoin” saw its value skyrocket from less than $10 on Saturday morning to a peak of $74.59 before settling at $33.88 on Monday, according to cryptocurrency price tracker CoinGecko.
In addition to the surge in $TRUMP token value, a separate Trump-linked crypto project, World Liberty Financial, announced the completion of an initial token sale on Monday, raising $300 million. The project plans to issue additional tokens in the near future.
The enthusiasm surrounding Trump’s crypto-friendly policies helped Bitcoin, the world’s largest cryptocurrency, reach a new record of $109,071 on inauguration day, coinciding with Trump’s swearing-in as the 47th US President. However, Bitcoin later pared its gains, trading at $101,867.40 as of Monday.
Trump’s new cryptocurrency, along with a similar token launched by Melania Trump on Sunday, was created on the Solana blockchain. The Solana coin also saw a rise over the weekend, hitting an all-time high of $294.33 on Sunday.
Matthew Dibb, Chief Investment Officer at Astronaut Capital, warned that the excitement surrounding Trump’s crypto policies may lead to volatility. “I think in the short term, there’s a chance this could be a sell-the-news event,” Dibb said, adding that crypto investors are anticipating executive actions related to digital assets in the coming days. “We are expecting further volatility here and likely a selloff,” he added.
The $TRUMP token was launched on Friday, trading under $10, but quickly rose, reaching its peak at $72.62 on Sunday. It traded lower on Monday, falling from $52.15 to around $30 by the end of the day.
According to the project’s website, 80% of $TRUMP tokens are owned by CIC Digital, an affiliate of Trump’s business, and another entity called Fight, Fight, Fight. The token is described as an “expression of support for, and engagement with, the ideals and beliefs embodied by the symbol ‘$TRUMP’” and is not considered an investment or security.
The surge in $TRUMP token prices reflects growing anticipation of potential changes in US cryptocurrency policy, including a possible Bitcoin strategic reserve and the loosening of regulations around digital assets. However, analysts caution that such developments are likely to unfold over time. Grzegorz Drozdz, market analyst at Conotoxia Ltd, expressed concern about the high volatility of meme cryptocurrencies. “We generally consider them as speculative assets,” he said.
The launch of Trump’s coin has blurred the lines between politics and digital assets, with independent crypto analyst Justin D’Anethan pointing out that it mixes governance, profit, and influence in a way that raises questions about the future of political involvement in cryptocurrency.