Hours before the inauguration ceremony, new US President Donald Trump launched a memecoin called $TRUMP, and it has reportedly increased his wealth by 89 percent. Considering that Trump owns about 80 percent of the coin and its current price is about $52, his wealth has increased by about $45 billion.

The $TRUMP crypto token is built on the Solana blockchain, which has now turned into a gold mine for Donald Trump. Interestingly, as crypto tokens become more popular, investors will add to the personal wealth of the new US President.

Trump’s crypto holdings surged overnight and were worth $58 billion by Sunday morning. According to a report by Axios, if this number is combined with his other assets, he will now be among the 25 richest people in the world.

As mentioned above, Trump owns 80 percent of the tokens. This means that out of the total 1 billion tokens issued, 200 million are being actively traded by the public.

The new $TRUMP Memecoin takes you back to Donald Trump’s first term as President in the US, when there was great concern over how people were personally supporting him by staying at his Washington hotel and contributing to his personal wealth. Can provide benefits. However, crypto tokens are a new and more direct way to increase Trump’s wealth. First, he listed a meme stock where he owned more than half the shares, and now the meme coin is a new opportunity for him to generate wealth with less accountability.

But here is an interesting twist in the story. Enter First Lady Melania Trump.

Hours after Donald Trump released his memecoin, his wife Melania Trump launched her own memecoin called $MELANIA late Sunday night. His Memecoin was briefly able to cause Donald Trump’s token to decline, seeing a 50 percent decline. As of Monday morning, the value of Melania Trump’s Memecoin has increased by 2000 percent and is trading at $0.1261.