Millionaires were made almost overnight as the $Trump memecoin, launched just ahead of the U.S. president’s inauguration on January 20, saw an unprecedented surge in value. Despite its disclaimer that it is not an investment opportunity or politically connected, the coin’s price skyrocketed, creating wealth for early investors. However, the launch has sparked controversy, with critics accusing the president of leveraging the timing for personal gain. The $Trump coin signifies a pivotal moment in the blending of politics and cryptocurrency.

Credits: Channels Television

If you’ve been away from the cryptocurrency scene recently, you may have missed the release of the $Trump memecoin, launched as the soon-to-be 47th president of the United States prepares for his inauguration on January 20.

Credits: CoinCentral

Trump Announces Meme coin on Truth Social, with Key Disclaimer

The incoming president shared the announcement on his social media platform, Truth Social, encouraging followers to join him in celebrating his presidency by getting involved with the memecoin. The official website described the coin as a celebration of a leader who refuses to back down, no matter the challenges. However, it also came with a key disclaimer: the coin is “not intended to be an investment opportunity” and “has no political ties or connection to any campaigns or offices.” It clarified that the $Trump coin should not be considered an endorsement or expression of political beliefs.

Credits: Youtube

Trump’s Memecoin Surges to $14, Creating Millionaires in Hours

The coin was launched by CIC Digital LLC, an affiliate of the president’s organization, and it experienced an unexpected surge in value almost immediately. Within just six hours, the coin’s price skyrocketed from a few cents to $14, continuing to climb throughout the day. According to CoinMarketCap.com, the market capitalization of the coin reached nearly $5.5 billion shortly after its launch, making many early investors millionaires.

The coin’s release was limited to 200 million units initially, but plans were announced to issue an additional 800 million coins over the next three years, offering further opportunities for traders to participate.

Credits: YouTube

Trump Meme coin Launch Sparks Controversy and Criticism

While many people became wealthy from their investments, the launch has not been without controversy. Some critics have accused the president of exploiting the coin’s release for personal gain. Nick Tomaino, a well-known crypto investor, voiced concerns on social media, calling the timing of the coin’s launch—just hours before the president’s inauguration—”predatory.” He warned that many could face significant financial losses from their involvement.

Credits: Getty Images

Trump Memecoin Delivers 2,634% Return, Creating Massive Profits for Early Traders

Reports from SolanaFloor, a digital finance news site, highlighted the impressive returns some traders saw. One individual reportedly spent $1.09 million to purchase nearly 6 million $Trump coins, which quickly appreciated to a value of $30.8 million in under two hours, yielding a 2,634% gain. At the time of writing, the $Trump coin had become the second-largest memecoin by market capitalization, boasting a 272% increase in investment. Over $3 billion in trading volumes were recorded within hours of its launch, and early buyers saw paper gains of up to $70 million.

Credits: Wired

Trump Meme coin Marks Historic Intersection of Politics and Crypto

This marks a historic moment in the cryptocurrency world, as it is the first time a sitting or incoming president has attached their image to a memecoin. For many, the release of $Trump signifies a new chapter in the intersection of politics and digital finance. According to a screenshot shared by traders, over 525 individuals became millionaires in under 24 hours after investing in the coin, cementing the $Trump meme coin as one of the most talked-about digital currencies in recent history.