Bitcoin and cryptocurrencies have soared since Donald Trump’s election victory in the United States, riding a wave of optimism through 2025 despite a harsh price warning from Elon Musk.
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The price of bitcoin has recovered to $100,000 per bitcoin after falling to around $90,000 earlier this month, with leaks revealing that Trump may be poised to cause bitcoin price chaos.
Now, as traders scramble to get ahead of the Federal Reserve, a new Trump-promoted memecoin on X and Truth Social has sent expectations for a bombshell Trump inauguration skyrocketing.
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Donald Trump has caused the price of Bitcoin’s new rival to skyrocket.
AFP via Getty Images“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,” Trump’s X account posted along with a link to a website allowing users to purchase the official Trump meme. cryptocurrency and adding: “Have fun.”
The cryptocurrency was not immediately confirmed as official by non-social media channels, with many speculating that Trump’s X and his Truth Social account which posted a similar message may have been hijacked by scammers. However, the post was not removed even after other posts appeared on Trump’s Truth Social account suggesting he still controls it.
Memecoin, a type of cryptocurrency similar to bitcoin that derives its value from the level of community interest and engagement, launched on the Solana blockchain and made 200 million of Trump’s cryptocurrency available. offer expected to reach a total of 200 million. a billion over three years, according to its website.
The Trump memecoin reached a market cap of more than $20 billion in just a few hours, according to on-chain data, eclipsing other popular memecoins and causing prices of other major cryptocurrencies to plummet as traders sell them and buy the Trump coin.
Trump’s promotion of memecoin just days before his inauguration in Washington DC has sent shockwaves through the bitcoin and crypto world, with traders and analysts betting it will lead to greater volatility ahead for the markets.
“It’s beyond crazy,” analysts from La Lettre de Kobeissi posted on X. “What’s going on?”
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Price of Donald Trump’s new memecoin surged, catapulting it into bitcoin and crypto … (+)
Trading View“The new president of the United States just flipped a coin a few days before his inauguration,” crypto investor and YouTuber Anthony Pompliano said on your belt.
“This is just a taste of what we can expect for the next four years,” crypto trader and YouTuber Ran Neuner posted on X, adding “You’re not optimistic enough.”
This week, a series of leaks suggested that Trump was preparing to issue a series of executive orders that would shake up the crypto landscape shortly after his inauguration on Monday, January 20.
Meanwhile, executives from bitcoin and crypto companies gathered in Washington on Friday for a so-called crypto ball, intended to drum up support for Trump within the crypto community and demonstrate his value to the new administration.
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