Within just 48 hours of its introduction, the TRUMP memecoin achieved a market capitalization of approximately $12 billion, placing it among the top 30 cryptocurrencies globally. Extraordinarily, the Trump coin is now the second largest memecoin, only second to the pioneering memecoin Dogecoin (DOGE). The launch of TRUMP also had a significant impact on Bitcoin price and other altcoins prices, with liquidity shifting from major altcoins into the newly listed token.
Since his tweet announcing the launch, the coin has rallied from $1.62 to a high of $75.53 in one day. This represents a staggering growth of approximately 4,562.35% in a single day. To put this rapid growth into perspective, Dogecoin took eight years to surpass a $10 billion market capitalization, whereas the TRUMP token achieved a similar milestone the day after the launch was announced.
The launch of the TRUMP cryptocurrency by President-elect Donald Trump represents a significant paradigm shift in the cryptocurrency sector, primarily due to the unprecedented involvement of a sitting U.S. president in the digital asset space. This move not only highlights the growing intersection between political figures and digital currencies but also signals a potential shift in the regulatory landscape. This launch highlights the increasing mainstream acceptance of cryptocurrencies and their integration into various facets of society.