U.S. President-elect Donald Trump’s Memecoin Surge

U.S. President-elect Donald Trump’s memecoin, Official Trump (TRUMP), surged to over $60 following Robinhood’s listing announcement.

Robinhood’s Announcement

Early Monday morning, Robinhood revealed that Official Trump (TRUMP) is now available for trading. This announcement drove the coin’s price from around $45 to $61 within just two hours, according to data from The Block’s price page.

Market Capitalization

Currently, Official Trump boasts a market capitalization of $12.1 billion, with a fully diluted valuation (FDV) of $60 billion. The Kobeissi Letter noted, “The coin just added $2.5 billion of market cap on this announcement.”

Other Listings

In addition, several cryptocurrency exchanges, such as Gate.io, Bitget, BingX, and MEXC, rushed to list Melania Trump’s memecoin, MELANIA.

Launch of TRUMP and MELANIA

Over the weekend, the President-elect launched the TRUMP memecoin in anticipation of his inauguration on Monday. Melania Trump subsequently launched her memecoin, which currently has a market cap of $1.69 billion and an FDV of $11.3 billion, according to DEXscreener.

Demand for Trump-associated Tokens

Additionally, World Liberty Financial, a DeFi project associated with Trump, experienced a spike in governance token sales on Sunday. It has sold 20% of its 100 billion token supply and opened up an additional 5% block to meet high demand.