Trump’s memecoin rebounds to over $60 after Robinhood listing announcement

Quick Take

  • The Official Trump (TRUMP) memecoin saw its price rebound to $61 after Robinhood announced the token’s listing on the exchange.

U.S. President-elect Donald Trump’s “Official Trump” memecoin rebounded to over $60 after Robinhood announced the listing of the memecoin on its platform.

Stock trading and investing platform Robinhood announced early Monday morning that Official Trump (TRUMP) is available for trading on its exchange. The news appears to have driven up the price of the newly launched memecoin to $61 from around $45 within the past two hours, according to The Block’s price page.

Official Trump’s market capitalization currently stands at $12.1 billion with a $60 billion fully diluted valuation. “The coin just added $2.5 billion of market cap on this announcement,” wrote The Kobeissi Letter on X.

Meanwhile, several crypto exchanges, including Gate.io, Bitget, BingX and MEXC, also rushed to list Melania Trump’s Memecion, “MELANIA.”

Over the weekend, the President-elect launched the TRUMP memecoin ahead of his inauguration on Monday, with Melania Trump soon following suit with her memecoin. The MELANIA token currently has a market cap of $1.69 billion, with its FDV reaching $11.3 billion, according to DEXscreener.

World Liberty Financial, the DeFi project associated with Trump, also saw surges in governance token sales on Sunday. It has sold 20% of the 100 billion token supply and has opened up an additional block of 5% of the token supply to meet the substantial demand.


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© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Timmy Shen is an Asia editor for The Block. Previously, he wrote about crypto and Web3 for Forkast.News from Taiwan after spending more than three years in Beijing covering finance, entertainment business and current affairs at Caixin Global and Chinese tech at TechNode. His China-related reporting has also appeared in The Guardian. When he's not chasing headlines, you'll find him savoring hot pot and shabu shabu in a Taipei local haunt. Timmy holds an MS degree from Columbia University Graduate School of Journalism. Send tips to [email protected] or get in touch on X/Telegram @timmyhmshen.

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