Trump’s Meme Coin Surges to $9B Market Cap Ahead of Inauguration

In the world of cryptocurrency, market manipulation investigations often follow sudden spikes in value. However, the decentralized nature of crypto leaves room for unusual occurrences. Case in point: the recent surge of $TRUMP, a meme coin tied to President-elect Donald J. Trump, which skyrocketed just ahead of his return to the Oval Office.

As Trump prepares for his swearing-in, $TRUMP’s market capitalization soared past USD 9 billion, with a staggering USD 42 billion traded in the last 24 hours. CoinMarketCap reported that the token’s value jumped 73% during early Monday trading, reaching over USD 46 per coin and pushing its total market cap to USD 9.2 billion.

Trump announced the launch of the meme coin on his social media platform, Truth Social, last Friday. Known for his endorsement of cryptocurrencies like Bitcoin, Trump’s influence has invigorated the decentralized finance (DeFi) market since his election victory in November.

Beyond his crypto endeavors, Trump’s return to office is expected to bring significant policy shifts. His upcoming executive orders are anticipated to address key issues such as energy, governance, immigration, and border security. Notably, Trump is also expected to intervene in the ongoing saga of TikTok’s ban in the U.S.

Despite spearheading the effort to ban the popular video-sharing app last year, Trump now hints at reversing or delaying the ban. Following the recent reinstatement of TikTok, a message on the app declared, “Thanks for your patience and support. As a result of President Trump’s efforts, TikTok is back in the US!”

Legal experts remain puzzled about Trump’s ability to unilaterally overturn a law passed with bipartisan support and upheld by the U.S. Supreme Court. As his administration unfolds, questions surrounding his legal authority and the impact of his decisions on the crypto market continue to stir debate.

This latest surge of $TRUMP exemplifies the fusion of politics, influence, and finance, marking what some are calling the “peak capitalism” era in the decentralized digital world.