#TRUMPCoinMarketCap $TRUMP

Trump announced the launch of his meme coin, $TRUMP, in a Truth Social post late Friday, saying the cryptocurrency is celebrating “WINNING” the presidential election and his upcoming inauguration.

Shortly after launching, the price of rapidly rose by more than 300% by Saturday morning, and it kept rallying Saturday night and early Sunday morning—before paring back some of its gains later Sunday.

The digital asset hovered at just over $46 as of 5:25 p.m. EST Sunday, with a market cap of $9.36 billion, according to CoinMarketCap.

The asset—hosted on the Solana blockchain—briefly surpassed $75 early Sunday morning, bringing the total market cap of all tokens in circulation to a peak of $15 billion.

The meme coin’s developers have limited the supply of $TRUMP to 200 million coins at launch before expanding the overall supply to 1 billion over the next three years, according to the coin’s website.

The remaining 80% of tokens that have yet to be publicly released are owned by the Trump Organization affiliate CIC Digital LLC and Fight Fight Fight LLC, a company formed in Delaware on Jan. 7, according to state filings, and both companies will receive an undisclosed amount of revenue derived from trading activity.

The token’s website includes a disclaimer noting $TRUMP is “not intended to be, or the subject of” an investment opportunity nor a security of any type, and is “not political and has nothing to do with” any political campaign, political office or government agency.