Robinhood Lists TRUMP Token as Price Surges Over 54%

• Donald Trump’s official meme coin, TRUMP, is now listed on Robinhood.
• Within the final 24 hours, TRUMP is up 54.29%, whereas MELANIA is up 56.46%.
• Trump was known as “grasping” by crypto market individuals over the launch of the meme cash.

President-elect Donald Trump launched a brand new meme coin OFFICIAL TRUMP (TRUMP) token simply earlier than his inauguration day. The token, now ranked because the 18th largest digital asset with a market cap of $11.76 billion, is priced at $58.83 based on CoinMarketCap information.

Whereas the broader crypto market remains to be in a consolidation part, the TRUMP token rose 54.29% previously 24 hours after itemizing on Robinhood, a serious inventory and crypto buying and selling platform. Robinhood confirmed the point out in a put up on X (previously Twitter).

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TRUMP Token ranks excessive in buying and selling quantity

With a 24-hour buying and selling quantity of $52 billion, TRUMP ranks fourth after USDT, Bitcoin and Ethereum. The token is now out there on main crypto exchanges together with Binance, Kraken, OKX, Bybit and Robinhood. Notably, the value hit an all-time excessive of $75.35 about 19 hours in the past, however has since fallen 23.45% from its peak.

Shortly after the debut of the TRUMP token, Melania Trump, the incoming First Girl, introduced her personal memecoin; $MELANIA. $MELANIA, launched on January 19, rose 56.46% inside 24 hours to commerce at $11.48, however fell 16.54% from the all-time excessive of $13.19 recorded 16 hours in the past.

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Criticism of Trump’s back-to-back token launches

Regardless of the tokens’ successes, Trump is dealing with backlash from crypto market individuals who accuse him of it greed. The discharge of MELANIA is claimed to have induced TRUMP’s value to fall, with Delphi Labs co-founder José Maria Macedo attributing this to insider profit-taking.

Monetary analyst Michael A. Gayed criticized the dual token launches, suggesting they might harm Trump’s credibility earlier than his inauguration.

Equally, Jim Bianco of Bianco Analysis famous that the “crushing success” of the TRUMP token could have prompted Trump and Melania to capitalize extra on the hype by launching $MELANIA, a transfer that smacks of haste.