Washington, DC – A new meme coin launched by President-elect Donald Trump has quickly gained attention, with a market capitalization of $13 billion. This marks Trump’s latest foray into cryptocurrency and merchandise sales as he prepares for his upcoming inauguration.

Trump announced the launch of the meme coin, $TRUMP, in a post on Truth Social, celebrating his presidential election victory and upcoming inauguration. The price of $TRUMP surged by more than 300% within a short period, reaching over $65 and a market capitalization of $13.3 billion. The cryptocurrency, hosted on the Solana blockchain, briefly exceeded $75, bringing the total market cap of all tokens in circulation to $15 billion.

The developers of the meme coin have limited the initial supply of $TRUMP to 200 million coins, with plans to expand the overall supply to 1 billion over the next three years. Notably, 80% of the tokens that have not yet been released to the public are owned by Trump Organization affiliate CIC Digital LLC and Fight Fight Fight LLC. These companies are poised to receive revenue from trading activity related to the meme coin.

It is emphasized on the coin’s website that $TRUMP is not an investment opportunity or a type of security. Furthermore, it is made clear that the cryptocurrency is not tied to any political campaign, political office, or government agency. The trading volume of $TRUMP in the 24 hours leading up to noon on Sunday amounted to $28.86 billion.

In recent years, Trump has shown a keen interest in expanding his merchandise offerings, including perfumes, colognes, and “Trump Watches” commemorating his election win. His latest line of signed and unsigned guitars generated significant sales, adding to the revenue he has earned from merchandise sales, including NFTs.

As Trump prepares to take office, he has expressed plans to reduce regulatory burdens facing crypto firms and establish a new crypto advisory council. Additionally, he intends to designate cryptocurrency as a national priority, a move that has already had an impact on the price of bitcoin.

With Trump’s latest venture into the crypto industry and the ongoing success of his meme coin, all eyes are on the future of cryptocurrency and the potential impact of his policies on the market.