Donald Trump has announced the launch of his own cryptocurrency – the meme coin $TRUMP.
He wrote about this on social media platform X.
Trump Returns: What We Know About the US President's InaugurationDonald Trump is returning to the White House. Details on how the inauguration will take place, who will attend the ceremony, and the enhanced security measures in Washington.“It’s time to celebrate everything we stand for: victory. Join my community and get your $TRUMP right now,” the message states.
The website mentions that on the first day, 200 million coins will be available to users, and over the next three years, the total supply will grow to one billion.
CoinDesk noted that the prices of the meme coin surged from a few cents to $14 in less than six hours.
“Prices fluctuated from a few cents to $14 in under six hours amidst general confusion over whether the token was actually endorsed by Trump, or if it was a potential hack of Trump’s account with a fake token released by an attacker to deceive unsuspecting buyers,” the report states.
As a reminder, Trump’s inauguration is set for January 20. Media reported that he has invited several world leaders to the event, including China’s leader Xi Jinping. This deviates from tradition, as usually ambassadors and other diplomats are invited to such events in the US.
The ceremony will take place in the Rotunda of the US Capitol for the first time since 1985 will be held.
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