“$Trump is following a trend of ‘celeb coins’ like Iggy Azalea, that have launched over the past year,” said Tyler Tarsi, co-founder of Omni Network. “$Trump was the fastest coin ever to reach a $50 billion valuation, reaching $65 billion overnight, which is total insanity. It broke the Solana network.”

As you've probably heard by now, President Donald Trump recently launched the Official Trump meme coin with the ticker $TRUMP, which is hosted on the Solana ( SOL -14.27%) blockchain. With a market cap of about $7 billion, the coin is already one of the most-valuable meme coins.