Former President Donald Trump released a new public statement about the incredible success of his freshly launched crypto token $TRUMP. “To me, I don’t know if it benefited, I don’t know where it is, I haven’t checked it, but I heard it was very successful,” responded Trump casually when asked whether the memecoin would continue to personally profit him.
Trump’s remarked for the $TRUMP token, which was launched Friday and has soared in value. Two days after launching, the token soared from below $10 to an all-time high of $74.59 and was priced at $43.08 as of Monday. Powered with an $8.61 billion market cap, the token has disrupted the crypto world.
When asked about the coin’s profits, Trump shrugged and said, “Several billion? That’s peanuts for these guys.” The token’s success is seen as a sign of the increasing fervor surrounding Trump’s pro-cryptocurrency stance.
The $TRUMP coin, launched on the Solana blockchain, wasn’t the only cryptocurrency to enjoy a pump. The Solana coin itself set another record Sunday, at $294.33. Anticipation surrounding possible executive action from Trump’s administration was also a primary driver behind this jump in crypto prices.
Trump’s memecoin generated significant attention despite some backlash from ethics experts, some of whom are already saying the excitement may not be sustainable. In the short term, there’s a possibility this could be a sell-the-news event,” crypto analyst Matthew Dibb said.
Though no specific plans were laid out for what would happen next with the $TRUMP token, the hilarity surrounding Trump’s launch of this token and the profits it made have only added to the hype surrounding the coin.
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