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

President-elect Donald Trump launched the $TRUMP crypto meme coin, which generated more than $6.27 billion in market capitalization, a 600% rise in one day.

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.

President-elect Donald Trump promised a crypto-friendly administration. Days before taking office a second time, he began selling a new cryptocurrency. Named $TRUMP, the project is a so-called meme coin,

Explore why investors are riding the iDEGEN wave amid the ongoing demand for meme coins like Donald Trump's TRUMP

Donald Trump is promoting a Solana meme coin from his social media accounts. Elaborate hack or a truly wild new era for crypto?

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.

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

"The Trump meme coin stuff is bad for the industry. Don't delude yourself," Anthony Scaramucci wrote on Saturday.

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.