As Trump is sworn back into office on Monday, $TRUMP topped the market cap, bringing along optimism for the cryptocurrency industry.

The memecoin sector is full of joke tokens offering little intrinsic value and lots of volatility, feeding criticism of the nascent industry as frivolous and risky.

Days ahead of Trump's inauguration as President of the United States, scheduled for Monday, Jan. 20, Trump launched the $TRUMP memecoin on crypto platform Solana. The President-elect posted the news from his official X account, making it as official as can be.