The coin, unveiled on January 17, has taken the digital asset market by storm, recording a staggering 236 per cent increase in value within just 24 hours.
Its market capitalisation now exceeds $14 billion, with each coin priced at $69.79 as of Sunday afternoon, around 2:50 p.m. Nigerian time, PUNCH Online reports.
The venture, spearheaded by CIC Digital LLC—an affiliate of the Trump Organisation known for marketing Trump-branded products—has drawn both praise and scepticism.
“This is a celebration of our movement and everything we stand for: winning,” Trump declared on his platform, Truth Social, while announcing the coin on Friday.
The coin’s website describes it as a tribute to “a leader who doesn’t back down, no matter the odds.”
PUNCH Online reports that Trump and his sons launched a cryptocurrency platform in September 2024.
Trump is set to be inaugurated as the 47th US president, marking his return to the White House on Monday.
Viral Phenomenon
The Official Trump coin has gained immediate traction on major exchanges such as Binance and OKX, where trading volumes have surged.
Analysts attribute its meteoric rise to its viral appeal and Trump’s political branding. The coin’s logo, emblazoned with “Fight Fight Fight,” has further fueled its popularity.
“It’s not just a coin; it’s a statement,” said political analyst Rachel Maddox.
“But the intersection of finance, politics, and blockchain raises significant ethical questions.”
The coin’s creators have emphasised that it is not intended as an investment opportunity or security. Despite this disclaimer, its rapid ascent has drawn attention from seasoned crypto investors and Trump supporters alike.
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