“It’s time to celebrate everything we stand for: WINNING! Join my very special Trump community,” Trump said late Friday in a social post promoting the brand new tokens. They are promoted with a picture of Trump raising his fist within the air overlaid with the words “FIGHT FIGHT FIGHT,” a reference to Trump’s response to an assassination attempt at a political rally in July.
My NEW official Trump meme is HERE! It’s time to have a good time the whole lot we stand for: WINNING! Join my very special Trump community. Get yours $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq – Have fun! pic.twitter.com/flIKYyfBrC
– Donald J. Trump (@realDonaldTrump) January 18, 2025
In promoting the meme coin, Trump urged his supporters to “have fun!” The website selling the tokens says they’re intended as an expression of support and never as an investment opportunity.
How much did the Trump meme coin sell for when it was launched?
That hasn’t stopped people from attempting to become profitable. The Trump meme coins initially sold for $10 each before rising to around $70 on Sunday morning.
Later on Sunday, the worth fell sharply after Trump and his wife Melania Trump posted a few meme coin for them. The Melania coin was trading for around $5 on Sunday afternoon.
What are meme coins?
Meme coins are an odd and highly volatile corner of the crypto industry that usually start out as a joke with no real value, but can rise in price if enough individuals are willing to purchase them. Dogecoin, the cryptocurrency whose mascot is a super-cute dog who muses things like “wow a lot,” is probably essentially the most well-known.
Meme coins could be utilized by scammers seeking to make a fast fortune on the expense of unwary investors.
Investors’ response to Trump’s meme coin
Some crypto enthusiasts welcomed the discharge of the Trump meme coin, saying it was a logo of the brand new president’s support for an industry that felt unfairly targeted by the Biden administration. Trump has promised to introduce crypto-friendly regulations and has picked crypto cheerleaders for key government positions.
Critics said the Trump meme coin may very well be a dangerous way for special interests and foreign governments to purchase influence with the president.
The most dangerous thing in regards to the Trump coin for the country is what comes next. Now virtually anyone on the planet can deposit money into the President of the United States checking account with just a couple of clicks. Every favor – geopolitical, business or personal – is now open on the market.
— Anthony Scaramucci (@Scaramucci) January 19, 2025
“Now virtually anyone in the world can deposit money into the bank account of the president of the United States with a few clicks,” Anthony Scaramucci, a former Trump White House communications director, said on X.
How Trump’s crypto coin got here to be
The sale of the Trump meme coin was organized by CIC Digital, a subsidiary of the Trump Organization. The coin’s website says there are currently 200 million Trump meme coins available, with a billion expected to be issued over the subsequent three years. CIC Digital and one other company collectively own 80% of Trump Meme Coin and can receive “trading proceeds from trading activities,” in line with the token’s website.
