Donald Trump's newly created cryptocurrency soared on Monday to nearly $11 billion in market value, drawing in billions in trading volume, while bitcoin hit a record high just hours ahead of the U.S.

A new meme coin launched by President-elect Donald Trump on Friday has hit a market capitalization of $13 billion, marking Trump’s latest venture into cryptocurrency and merchandise sales in the lead-up to his inauguration.

Reports suggested that meme coins associated with both Donald Trump and Melania Trump have collectively reached a market capitalisation of $2 billion. This came after the launch of Donald Trump's official meme coin,