“It’s time to celebrate everything we stand for: Winning! Join my very special Trump community,” Trump said in a social post late Friday promoting the new token. They were marketed as a photo of Trump with his fist raised superimposed 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 celebrate everything we stand for: Winning! Join my very special Trump community. get yours $Trump Now. Go — and have fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
In promoting the meme coin, Trump told supporters to “have fun!” Websites selling the tokens said they were a show of support, not an investment opportunity.
How much will the Trump meme coin cost when launched?
This doesn’t stop people from trying to make money. The Trump meme coins were sold for $10 each before soaring to around $70 on Sunday morning.
Shares fell sharply late Sunday after Trump and his wife, Melania Trump, released a meme coin designed for her. Melania Coin was trading at about $5 on Sunday afternoon.
What is a memecoin?
Meme coins are a strange and highly volatile corner of the cryptocurrency industry that often start out as a joke with no real value, but if enough people are willing to buy them, the price can skyrocket. Dogecoin is a cryptocurrency perhaps best known for its mascot, a super cute dog that makes sounds like “wow”.
Scammers can use Meme coins to make a quick fortune at the expense of unwary investors.
Investors react to Trump memecoin
Some cryptocurrency enthusiasts welcomed the release of the Trump meme coin, saying it symbolized the incoming president’s support for an industry that has been unfairly treated by the Biden administration. Trump has promised to introduce cryptocurrency-friendly regulations and picked crypto cheerleaders for key government positions.
Critics say Trump meme coins can be a dangerous way for special interests and foreign governments to try to buy influence with the president.
As with Trump coins, the most dangerous thing for the country is what happens next. Now, anyone in the world can deposit money into the bank account of the President of the United States with just a few clicks. All favors – geopolitical, corporate or personal – are now available for public sale.
— Anthony Scaramucci (@Scaramucci) January 19, 2025
“Now anyone in the world can deposit money into the bank account of the President of the United States with a few clicks of a mouse,” former Trump White House communications director Anthony Scaramucci said on X.
How Trump’s Cryptocurrency Was Born
The sale of the Trump meme coin was organized by CIC Digital, an affiliate of the Trump Organization. The coin’s website says there are currently 200 million Trump meme coins, with plans to issue 1 billion over the next three years. CIC Digital and another company collectively own 80% of the Trump Meme Coins and will receive “trading revenue from trading activity,” according to the token’s website.
