Trump’s new meme coin, called $TRUMP, launched on Friday. Coinciding with the inauguration celebrations, it soared on Monday from less than $10 to as high as $74.59 before losing some of its big gains. The new coin expands Trump’s cryptocurrency interests beyond the WLF.
Melania Trump also launched her own coin, $MELANIA, on Sunday. The coin’s rally pushed its market capitalization well past $1 billion.
Four-fifths of Trump’s crypto coin tokens are owned by CIC Digital, a Trump business affiliate, and another entity called Fight, Fight, Fight, according to its website.
It says the coin is an expression of support for, and engagement with, the ideals and beliefs it embodies and is not an investment or security.