The $TRUMP meme coin has taken the crypto market by storm, achieving a market cap of nearly $6 billion ahead of Donald Trump’s inauguration on January 20. Launched as part of his latest venture, $TRUMP is built on the Solana blockchain with plans to expand its supply to 1 billion coins over three years. The coin has surged over 300% this week, currently trading near $29.
The buzz around Trump’s pro-crypto policies, including plans for a Bitcoin reserve and regulatory reforms, has driven enthusiasm for and boosted the broader crypto market. However, the coin's volatile nature and skepticism about its connections raise questions for investors.
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