According to cryptocurrency tracking website CoinMarketCap, Donald Trump’s meme coin $TRUMP has hit nearly $11 billion in market value. At the time of this writing, it is valued at $52.71, up from less than $10 on Saturday. It hit a peak at $74.59 on Sunday.
The digital token was launched on Friday, and its branding includes an image of Trump raising a fist.
Reuters notes that of the total number of tokens, 80% are owned by CIC Digital LLC, an affiliate of The Trump Organization, and another business called Fight Fight Fight LLC.
The site of the coin notes that “GetTrumpMemes.com is not political and has nothing to do with any political campaign or any political office or governmental agency.”
Related: Donald and Melania Trump Launch Meme Coins
In 2021, Trump was vocal about his dislike of crypto, particularly Bitcoin. “Bitcoin, it just seems like a scam,” Trump said. “I don’t like it because it’s another currency competing against the dollar.”
However, his opinion has since evolved and he became the first presidential candidate to accept digital assets as campaign donations.
Crypto is also now a family affair for the Trumps.
First Lady Melania Trump also launched a meme coin, and on Sunday, Trump’s son Eric posted on X “Wait until you see what they do tomorrow!”
