On 19th January, U.S. President-elect Donald Trump’s official meme coin, the TRUMP coin, became the second largest meme coin in the market, replacing Shiba Inu (SHIB). This has put a stamp on the growing market shift as new tokens emerge to compete with the older ones. The milestone proves that more investors are getting interested in the $TRUMP coin, as well as its performance in the past several days. However, since then the $TRUMP coin has retraced and is now ranking as the 3rd largest memecoin.
Over the past 24 hours, the $TRUMP coin’s value has skyrocketed by an impressive 169.16%, reaching $65. This rise was supported by a massive jump in trading volume of 328.69% to $25.23 billion. The trading volume of the coin stands at $47 billion, while the market capitalization now stands at $13.06 billion, proving the investors’ confidence and positive market direction.
Shiba Inu
The price for Shiba Inu (SHIB) went down by 6.05% in the same 24-hour period. The token’s value has currently risen to $0.00002163. Despite this, trading volume increased by 15% to $992 million, which is an indication that there was still trading going on in the market even after the price drop. The market capitalization of Shiba Inu has fallen to $12.74 billion, making it a difficult day for the previous leading cryptocurrency.
The $TRUMP coin has risen sharply in value after its introduction by U.S. President-elect Donald Trump. Originally, $TRUMP was launched as a meme coin, but it was able to amass a market capitalization in the billions demonstrating its mass adoption. Rising interest from the market ahead of Trump’s inauguration as the 47th President of the United States on Monday has also contributed to pushing up the toke#TrumpMarketWatch #TRUMPOnBinance #TRUMPOnBinance n’s price.
