‘Official Trump’ Memecoin Jumps Over 260% Ahead Of President-Elect’s White House Inauguration: Market Cap Reaches Whopping $4 Billion Within 8 Hours Of Launch

The memecoin, trading at $23.20, reached a market capitalization of more than $4 billion, according to data from Coinmarketcap.

Crypto trader Edward Morra predicted potential market sell-offs, while commentator Daniel Got Hits expressed skepticism despite sensing legitimacy. Analyst Will Clemente noted Solana’s price surge of 4.12%, reaching $228, as investors rushed to buy TRUMP.

Why It Matters: Trump’s return to the White House has sparked speculation about his potential impact on the cryptocurrency market.

Reports indicate that Trump plans to issue crypto-friendly executive orders soon after taking office. These orders are expected to ease regulatory burdens on digital asset firms and promote cryptocurrency adoption.

Additionally, Trump is anticipated to establish a crypto advisory council, a concept he proposed earlier.

Moreover, experts are divided on the likelihood of immediate executive actions, though many are optimistic about the short-term market outlook.

The potential for Trump to mention cryptocurrency during his inauguration speech is also being closely watched, with a 31% chance according to Polymarket traders.

Price Action: At the time of writing, TRUMP was trading at $23.20, gaining over 12,000% over the past 24 hours, according to Benzinga Pro data.

Read Next:

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Photo courtesy: Shutterstock