It has already gone up by 17,000%
Donald Trump has launched a meme coin named $TRUMP on the eve of his inauguration as POTUS 47. The coin, which is built on the Solana blockchain, has already seen a 17,000% increase in value.
The announcement of the coin was made on Trump's Truth Social and X accounts, where he revealed that the coin will have an initial supply of 1 billion units. Of these, 200 million units will be available immediately, while the remaining supply will be locked up and released over three years.
The launch of the coin has sparked speculation among cryptocurrency enthusiasts, with some suggesting that Trump's accounts may have been hacked. However, these rumors have been quickly dispelled, with the announcement being confirmed by Trump's team.
The $TRUMP meme coin is the latest in a line of cryptocurrencies that have been launched with the aim of poking fun at the former president. In 2021, a cryptocurrency named "Let's Go Brandon" coin was launched, which quickly rose in value before crashing.
It remains to be seen whether the $TRUMP coin will enjoy the same level of success. However, given the coin's already impressive gains and Trump's large following, it is certainly possible that the coin could continue to rise in value.
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