'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 crypto world is abuzz as Donald Trump‘s new Solana-based SOL/USD memecoin “OFFICIAL TRUMP” TRUMP/USD, skyrocketed over 260% ahead of his inauguration on Jan. 20. What Happened: Trump’s social media posts promoting the coin have sparked skepticism about the authenticity of the messages. In a post on Saturday, Trump announced, "My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR TRUMP NOW." 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: Mark Zuckerberg Is Copying Elon Musk’s Playbook Amid Donald Trump’s Comeback, But Chamath Palihapitiya Thinks It Is Opportunistic Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo courtesy: Shutterstock Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.