Solana's SOL token rocketed after a meme coin linked to President-elect Donald Trump launched on the popular blockchain network.

President-elect Trump has launched his own crypto token called Trump coin. In less than 24 hours, the coin has had a 12,000% gain and has seen billions in trading volume.

TRUMP coins, a new Trump-backed cryptocurrency token, show an image of Trump following his assassination attempt.

TRUMP meme coin has a total supply capped at 1 billion coins, with 200 million available initially. In less than three hours, the token’s market cap soared to an eye-popping $8 billion.

The price of $TRUMP has risen by more than 300% to just below $29 as of 10:15 a.m. EST Saturday, reaching a market cap of $5.81 billion, according to CoinMarketCap.

Donald Trump has launched TRUMP meme coin on Solana. It can be bought through official website using debit card or cryptocurrency.

President-elect Donald Trump launched a memecoin on Friday that quickly topped a $10 billion market cap after nearly just an hour. A tweet from his Truth Social account and his verified X account announced $TRUMP just before 10 PM EST.

In the few hours of its launch, the new coin's market cap has reached a whopping $4.25 billion, surging over 240%. The new coin has taken the crypto world by the storm. The Trump meme coin has also become a trending topic on the major social platforms globally.

President-elect Donald Trump announced what appears to be an official Solana meme coin called TRUMP on his Truth Social account.