TRUMP coin now live on Stake.com ahead of Donald Trump's inauguration

The $TRUMP meme coin was launched by Donald Trump on Friday night, ahead of his inauguration today as the 47th president of the United States.

$TRUMP soared in valued in the hours after its launch and broke into the top 20 of all cryptocurrencies over the weekend. At time of writing, the coin has a market value of around $12million.

"My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!" President Trump wrote on his social media platform Truth Social on Friday night as he announced the meme coin.

According to the meme coin’s official website, CIC Digital LLC - a Trump-owned company - will own 80% of the token’s initial supply.

200 Million of the digital tokens have been issued, with another 800m to be released over the next three years.

The incoming first lady, Melania Trump, launched her own coin, $Melania, amid a rally in digital currencies.

On Monday morning, Bitcoin (BTC) reached another new record high of $109,241, up by more than 5%, while other popular cryptocurrencies including Dogecoin and Ethereum enjoyed similar gains.

Since Trump's election victory last November, cryptocurrencies have made significant gains, with crypto investors hoping that the new administration will boost the industry.

Stake.com players can deposit and withdraw with $TRUMP by logging in to their accounts and visiting the Cashier page. New players can use the Stake.com code NEWBONUS to claim up to $3000 in bonus money when signing up.