On January 18th local time, U.S. President-elect Donald Trump announced on his social media account the launch of his personal Meme coin, TRUMP.
According to CoinGlass data, as of press time, the latest market cap of TRUMP coin has exceeded 8 billion USD; the trading volume in the past 24 hours reached 67.78 billion USD.
Moreover, data shows that the market cap of TRUMP reached a peak of over 15 billion USD earlier on Sunday.
The official website of TRUMP coin calls it "the only official Trump Meme".
The website information reveals that 80% of the token's supply is held by an entity named "Fight Fight Fight", owned jointly by Trump's companies CIC Digital and CIC. The website states that there are currently 200 million tokens available for trading, with the circulation expected to increase to 1 billion tokens over the next three years.
Meanwhile, the official website of TRUMP coin also includes a disclaimer, noting that TRUMP coin "is not intended to be, nor shall it be, a subject of investment opportunity or any type of securities" and "is not political, and is unrelated to any political campaign, political office, or government agency".
It is worth mentioning that Trump's campaign has received support from several billionaires connected with the cryptocurrency industry. Trump has expressed his desire for the U.S. to become "the cryptocurrency capital of the world". Trump's election victory has driven Bitcoin to new highs, with its price rising to over 100,000 USD in the month following Election Day.
According to CoinGecko data, the total market cap of the global cryptocurrency market in 2024 increased by about 1.8 trillion USD, with 1 trillion USD of that increase occurring after the U.S. election day.
Trump has stated that he will use executive power to alleviate the regulatory burdens faced by crypto companies, including forming a new crypto advisory committee.
Reportedly, the President-elect plans to issue an executive order declaring cryptocurrency a priority policy, while suggesting government agencies collaborate with the industry; the order will also establish a Bitcoin reserve, allowing the federal government to buy and sell cryptocurrencies.
The cryptocurrency market's severe fluctuations triggered by TRUMP coin, as well as reports on Trump's planned executive orders, have driven Bitcoin prices higher. On January 18th, Bitcoin prices surged and broke through 105,000 USD, before experiencing a slight decline. As of press time, the latest price of Bitcoin is 100,764 USD per coin.
Some believe that Bitcoin's price will see a more positive trend in 2025. Alex Thorn, head of research at Galaxy Digital, predicts that Bitcoin will break through 150,000 USD in the first half of this year and reach 185,000 USD in the fourth quarter.
Elitsa Taskova, Chief Product Officer at the crypto lending platform Nexo, predicts that Bitcoin will more than double within a year, reaching 250,000 USD; from a ten-year perspective, she believes the entire crypto market cap will exceed that of gold.
However, top Wall Street technical strategist Katie Stockton has issued a warning that the upward momentum of Bitcoin has weakened, potentially leading to weeks of selling and eventually finding support around 84,500 USD. She added that if Bitcoin prices continue to fall, the next support level could be around 73,800 USD.
