An official memecoin linked to Donald Trump was launched from his verified social media accounts, leading to a chaotic trading frenzy. Prices jumped from a few cents to $14 in under six hours, with the authenticity of the token questioned by traders, creating widespread confusion. Despite skepticism, the token attracted $3 billion in trading volume shortly after its launch, with some early investors reportedly seeing gains of nearly $30 million. The memecoin appears to be a product of Trump's ongoing engagement with cryptocurrency, as he has previously endorsed various crypto products, including NFTs. The move comes just days before Trump is set to assume office for a second term, marking unprecedented involvement of a sitting president in the memecoin space. The project's website clarifies that the token is not intended as an investment vehicle but rather as a means of expressing support for Trump's ideals. This launch has prompted fluctuations in the valuations of other Trump-themed memecoins, emphasizing the unpredictable nature of the crypto market.

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