Trump's Memecoin Soars, Sparking Skepticism and Market Buzz

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Trump's Memecoin Soars, Sparking Skepticism and Market Buzz

Donald Trump's Memecoin "OFFICIAL TRUMP" Sees 260% Surge Ahead of Inauguration

The cryptocurrency world is buzzing with excitement as Donald Trump's new Solana-based memecoin, "OFFICIAL TRUMP," has skyrocketed over 260% ahead of his inauguration on January 20th.

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The memecoin, currently trading at $23.20, has reached a market capitalization of over $4 billion. Crypto experts are divided on the potential impact of Trump's return to the White House on the cryptocurrency market. Some predict potential market sell-offs, while others remain optimistic about the short-term outlook.

Reports indicate that Trump plans to issue crypto-friendly executive orders soon after taking office. These orders are expected to ease regulatory burdens on digital asset firms and promote cryptocurrency adoption. Additionally, Trump is anticipated to establish a crypto advisory council, a concept he proposed earlier.

The potential for Trump to mention cryptocurrency during his inauguration speech is also being closely watched. Polymarket traders currently estimate a 31% chance of this happening.

At the time of writing, TRUMP was trading at $23.20, gaining over 260% over the past 24 hours.