Trump’s New Meme Coin Skyrockets on His First Day in Office

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Trump’s new digital token, known as a “memecoin,” saw tremendous success in its first few days, reaching a market value of over $10 billion.

This can be attributed to the excitement surrounding Trump’s crypto-friendly presidency, which also briefly pushed Bitcoin to a new all-time high.

The token, called $TRUMP, was launched on Friday night and quickly rose from less than $10 to as high as $74.59 on Monday before slightly decreasing in value. Despite criticism from ethics experts, $TRUMP continues to trade at a high price of $33.88, as reported by cryptocurrency tracker CoinGecko.

Another crypto project linked to Trump, World Liberty Financial, announced on Monday that their initial token sale raised $300 million. The company plans to issue more tokens in the future.

Trump’s interest in the crypto world is a sign of the expected positive outlook for cryptocurrencies under his administration, in contrast to the strict regulations put in place by former President Joe Biden.