$TRUMP meme coin crosses $10-billion market cap after Donald Trump gets sworn in as 47th US President

$TRUMP meme coin: Donald Trump’s newly created cryptocurrency soared on Monday to more than $10 billion in market value after he took office for his second term as the 47th US president, drawing in billions in trading volume. The original cryptocurrency, bitcoin, hit a record high, breaching the $109,000 mark hours ahead of Trump’s return to the White House.

Launched on Friday, Trump’s “meme coin,” also known as $TRUMP, soared from less than $10 on Saturday morning to as high as $74.59 before giving up some of its rise today. According to CoinMarketCap, $Trump last traded at $45.21, giving it a market cap of over $9 billion, which ranked it as the 19th biggest cryptocurrency worldwide. The 24-hour trading volume was nearly $40 billion.