The Official Trump cryptocurrency's token price is climbing higher Tuesday. The recently launched meme coin was up 6.5% over the past 24 hours of trading in a day of bullish momentum for the broader market.

The launch of the Trump token, which hit a $15 billion valuation, rides the trend and raises questions. Axios reporter Brady Dale explains what a meme coin is and what owners can actually do with them.

President-elect Trump has launched his own crypto token called Trump coin. In less than 24 hours, the coin has had a 12,000% gain and has seen billions in trading volume.