Donald Trump's newly-created cryptocurrency soared on Monday to nearly $12 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.

President-elect Donald Trump launched his own meme coin early Saturday morning, creating excitement in the cryptocurrency world as the price and market capitalization of the coin immediately soared.