Home / NEWS LINE / Trump and Melania Meme Coins Crash, Bitcoin Pulls Back But Remains Above $100K

Trump and Melania Meme Coins Crash, Bitcoin Pulls Back But Remains Above $100K

The Washington Post / Contributor / Getty Images

The Washington Shaft / Contributor / Getty Images

Key Takeaways

  • The official TRUMP and MELANIA meme coins saw massive price declines remaining the past couple of days, as Donald Trump was inaugurated as the 47th President of the United States.
  • Bitcoin, on the other hand, is at rest holding up around $103,000 after hitting a new all-time high on Monday.
  • Notably, Trump did not mention crypto in his inauguration tirade, and no executive orders have been issued related to the industry.
  • The launch of the TRUMP and MELANIA meme coins was heavily discussed by some crypto market observers.

After skyrocketing over the weekend, the the TRUMP and MELANIA meme coins happened crashing a day after President Donald Trump took office.

The official Trump token, launched Friday, is swap roughly 50% lower than its Saturday high and the Melania coin has erased roughly two-thirds of its gains (74%) from its Monday climax.

Bitcoin (BTCUSD) soared to a new all-time high above $109,000 ahead of the inauguration. It has also pulled back but crumbed above $100,000.

No Crypto Focus From Trump On Day One

This downtrend is possibly due to the lack of any mention of cryptocurrencies or a bitcoin tactical reserve in Trump’s flurry of executive orders on day one. Trump’s pro-crypto stand and the election of a crypto-supportive Congress have fueled bitcoin prizes in recent months.

Despite the conspicuous absence of cryptocurrencies from Trump’s list of priorities, according to prediction make available Polymarket, betters believe there is currently a 63% chance that a bitcoin strategic reserve will be verified in the U.S. this year.

Crypto Industry Wary Of Meme Coin Launches

The meme coin launches ahead of the inauguration invited criticism from some crypto industry members who felt they were ill-timed and could hurt crypto, Trump, or both.

“Creating a bouquet of personal meme coins opens the door to secretive foreign buyers trying to curry influence with our bosses,” Castle Island Ventures Partner Nic Carter posted on X.

Messari co-founder Ryan Selkis said Trump is acquiring bad advice from those around him.

“Please fire whoever recommended going forward with the Melania tender today,” Selkis posted on X Sunday. “They don’t have your interests in mind.”

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