It seems like US President-elect Donald Trump's time is really going well. While Republican candidate Donald Trump will take oath as US President on January 20, 2025, his wealth has skyrocketed due to one move by his wife Melania Trump. His meme coin $TRUMP was launched on Friday and it is seeing a huge surge. After the launch of Trump's wife Melania Trump's meme currency, at one point $TRUMP fell by more than 50% and its price came down to $30. But the matter changed as the day progressed. As soon as Robinhood listed it on its exchange, its price skyrocketed.
As soon as it came on Robinhood's exchange, the market cap of $TRUMP jumped by $2.5 billion. When it was launched on Friday, its price was $0.18, which rose 7,790% to $15.13 in a few hours. This Solana-based meme coin started with posts on Trump's social media accounts Truth Social and X. It created a stir as soon as it was launched. Many users were under the illusion that Trump's social media account had been hacked. It gained 4,200 percent in the first two hours after launch and its market cap increased to $8 billion in just three hours.
$TRUMP meme coin theme
Trump's meme coin is inspired by the theme of 'Fight, Fight, Fight'. It was launched with 200 million coins. There will be a total supply of 1 billion in the next three years. 80% of the token is owned by CIC Digital LLC, a subsidiary of The Trump Organization, and Fight Fight Fight LLC, registered two days ago. Trump's wife Melania Trump has also launched her cryptocurrency $MELANIA. Within four hours of its launch, it jumped 24,000 percent. It started from almost zero and within no time its price reached $13.
How the meme coin skyrocketed Donald Trump's net worth?
Financial Express reported that the digital token now reportedly constitutes 89% of Trump’s net worth. “After another massive overnight surge, Trump’s crypto holdings are valued at a staggering $58 billion on paper. Combined with his other assets, this positions him among the world’s 25 richest individuals," it reported.
As per the report, $TRUMP accounts for $56.6 billion, with an additional $4.6 billion tied to DJT stocks and $2.6 billion in other assets, bringing his total estimated net worth to $63.8 billion. However, according to Forbes, Trump’s real-time net worth is at $6.7 billion, ranking him as the 472nd wealthiest person globally.