By Merve Berker
ANKARA (AA) – Donald Trump’s newly launched cryptocurrency, $TRUMP, achieved a market valuation of over $8 billion within two hours of its debut, according to press reports early Saturday.
The president-elect announced the memecoin on X, urging supporters to join the "Trump Community."
“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” Trump stated in his post, directing followers to the coin’s official website.
The rapid surge in valuation highlights the growing influence of memecoins in the cryptocurrency market, with $TRUMP quickly emerging as a notable contender.
Financial analysts have urged caution, noting that memecoins are highly volatile and prone to sudden value shifts.
Despite these concerns, Trump supporters have embraced the cryptocurrency enthusiastically, propelling its valuation to $8 billion within hours.
The success of $TRUMP demonstrates the increasing impact of branding and community loyalty in the evolving digital economy.