Donald Trump’s return to the Oval Office is making waves—not just politically but digitally. Hours before the Republican’s inauguration (Monday, 12 p.m. local time), the announcement of a new cryptocurrency, “$Trump,” sent social media into a frenzy.
Trump himself promoted the launch through platforms like “X” and “Truth Social,” sparking speculation and questions—had Trump been hacked?
The $Trump Meme Coin Craze
$Trump is a “meme coin,” typically seen as a humorous nod rather than a serious investment. Such coins often skyrocket in value following endorsements by influential figures, much like Dogecoin (DOGE) soared when championed by tech mogul Elon Musk.
In the case of $Trump, the coin’s value surged rapidly after its social media debut. Within hours, its market capitalization briefly exceeded $13 billion. Trump promoted the coin using a dramatic photo of himself—taken after surviving an assassination attempt in Butler, Pennsylvania, in July of the previous year—clenching his fist in a triumphant pose. The image was accompanied by the slogan, “Fight, fight, fight,” a rallying cry among his supporters. Trump wrote, “My new official Trump meme is here! It’s time to celebrate what we stand for: Winning!”
How $Trump Works
The cryptocurrency is minted on the Solana blockchain, with an initial release of 200 million coins available for purchase. The total supply is expected to increase to one billion coins, potentially reaching a market value of over $1 billion. While some of Trump’s 97 million followers expressed skepticism, suspecting his accounts had been hacked, experts confirmed the coin’s authenticity and verified its listing on trading platforms.
Trump’s Evolving View on Crypto
Historically, Trump was critical of cryptocurrency, calling Bitcoin a threat to the U.S. dollar and a tool for illicit activities. However, thanks to influence from his son Barron (18) and advisor Elon Musk, Trump has warmed to the industry. During his campaign, he praised blockchain innovation and even used NFTs (Non-Fungible Tokens) for fundraising.
Now, Trump is taking the leap with $Trump, signaling a bold new chapter in his engagement with the crypto world. Whether it’s a savvy investment or a risky gamble remains to be seen, but one thing is certain: the coin has already captured the world’s attention.
