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President-elect Donald Trump has unveiled his own cryptocurrency $TRUMP which saw its market value rocket to $6.6 billion shortly after its release. The launch timed with his upcoming inauguration as the 47th president was orchestrated by CIC Digital LLC an affiliate of the Trump Organization. Meme coins like $TRUMP often aim to capitalize on internet trends though they are known for their lack of inherent value and high volatility.
By Saturday afternoon the new cryptocurrency had made a remarkable debut on CoinMarketCap.com with Trump owning a significant share through CIC Digital LLC and Fight Fight Fight LLC. Amidst this financial whirlwind Trump took to Truth Social exclaiming “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” signaling his embrace of digital currencies.
This bold move comes after the previous administration’s stringent measures against fraudulent activities in crypto markets. Trump previously expressed skepticism but last year proclaimed at a Bitcoin conference that under his leadership America would become the global hub for cryptocurrencies.
Adding to the cryptocurrency’s success the official Trump ($TRUMP) price now stands at $56.14 with a market cap of $12.2 billion. Initially 200 million $TRUMP tokens were made available and the total will expand to 1 billion tokens over the next three years with each group’s allocation released according to their own schedule.
