Trump’s ‘Official’ Memecoin Skyrockets to $24 Billion Valuation Within Hours

The memecoin trenches were buzzing on Friday night as traders piled into TRUMP, a new memecoin purportedly launched by U.S. President-elect Donald Trump.

Promoted by Trump’s X and Truth Social accounts, the token is currently trading at a fully diluted valuation north of $20 billion, making it the second-most valuable memecoin behind DOGE by that metric.

Only 20% of the TRUMP supply is circulating, however, with a whopping 80% controlled by a single wallet linked to the team. The website confirms that “CIC Digital LLC, an affiliate of The Trump Organization, and Fight Fight Fight LLC collectively own 80% of the Trump Cards, subject to a 3-year unlocking schedule.”

A $4 billion circulating market capitalization still puts TRUMP ahead of all memecoins except DOGE, SHIB and PEPE, according to CoinGecko.

While there has been no official confirmation from Trump beyond the social media posts, developer Cygaar noted that the memecoin website is “deployed almost identically to his previous NFT website.”

The token was quickly listed by Moonshot and Hyperliquid, further fueling the frenzy.

Notably, SOL surged 10% to $240 while ETH briefly plunged under $3,300 as traders rushed to bridge to Solana and get in on the action. The primary liquidity pool for the token on Meteora has processed a whopping $2.16 billion of trading volume, according to DexScreener.

“The incoming President of the United States just launched a meme coin days before his inauguration…Financial markets are not ready for what is ahead — buckle up,” wrote Anthony Pompliano.