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- Donald Trump’s official meme coin, TRUMP, is now listed on Robinhood.
- Prior to now 24 hours, TRUMP is up 54.29% whereas MELANIA soared 56.46%.
- Trump was termed “grasping” by crypto market contributors over the launch of the meme cash.
President-elect Donald Trump launched a brand new meme coin OFFICIAL TRUMP (TRUMP) token simply forward of his Inaugural Day. The token, now ranked because the 18th-largest digital asset with a market cap of $11.76 billion, is priced at $58.83 as per CoinMarketCap knowledge.
Whereas the broader crypto market stays in a consolidation part, the TRUMP token surged 54.29% prior to now 24 hours following its itemizing on Robinhood, a significant inventory and crypto buying and selling platform. Robinhood confirmed the itemizing in a put up on X (previously Twitter).
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TRUMP Token Ranks Excessive in Buying and selling Quantity
With a 24-hour buying and selling quantity of $52 billion, TRUMP ranks fourth, following USDT, Bitcoin, and Ethereum. The token is now accessible on main crypto exchanges, together with Binance, Kraken, OKX, Bybit, and Robinhood. Notably, it reached an all-time excessive of $75.35 about 19 hours in the past however has since dropped 23.45% from its peak.
Shortly after the debut of the TRUMP token, Melania Trump, the soon-to-be First Woman, introduced her personal memecoin; $MELANIA. Launched on January 19, $MELANIA rose 56.46% inside 24 hours, buying and selling at $11.48 however down 16.54% from its all-time excessive of $13.19, recorded 16 hours in the past.
Associated: Crypto Positive aspects Beneath Trump: XRP Leads, 3 Altcoins Subsequent in Line
Criticism Over Trump’s Again-to-Again Token Launches
Regardless of the tokens’ successes, Trump is dealing with backlash from crypto market contributors accusing him of greed. The discharge of MELANIA allegedly brought on TRUMP’s value to fall, with Delphi Labs co-founder José Maria Macedo attributing this to insider profit-taking.
Monetary analyst Michael A. Gayed criticized the twin token launches, suggesting they harm Trump’s credibility forward of his inauguration.
Equally, Jim Bianco of Bianco Analysis famous that the “smashing success” of the TRUMP token could have pushed Trump and Melania to money in additional on the hype by launching $MELANIA, a transfer that smacks of haste.
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