The newly launched $trump and U.S. first lady Melania Trump's $melania memecoins have each plummeted as traders cash

Within hours, TRUMP skyrocketed in value, climbing from pennies to over $50, with a market cap over $10 billion. The coin now ranks among the world’s top 20 digital assets, attracting both investors and critics. Trump’s business arm holds 80% of the tokens, set to release gradually during his presidency.

Bitcoin hit a new all-time high overnight as investors prepare for the crypto-friendly Trump administration to take office.

Bitcoin hit a record $109,241 as the US readies for pro-crypto President-elect Donald Trump’s inauguration. The cryptocurrency surged 5.5% amid excitement over Trump’s meme coins, despite a subsequent market decline.

Bitcoin, however, is a fundamentally different, hard asset. While the mania surrounding crypto often spills over into Bitcoin’s price movements, Bitcoin itself remains largely unaffected in the long term. It continues to progress steadily, and I believe we’ll see a full recovery soon.

"God candle," Samson Mow, a bitcoin developer who leads the Jan3 bitcoin wallet company, posted to X and referring to a sudden spike in the bitcoin price that creates a "candle" on a trading chart as the bitcoin price suddenly soared, hitting $109,400 on the Coinbase bitcoin and crypto exchange.

Data shows TRUMP amassed over $19 billion in volumes over a 24-hour period, while MELANIA saw $4.5 billion exchange hands.

Key Takeaways Trump signed an executive order on digital assets, seeking recommendations on regulations and possibly setting up a digital stockpile.The SEC has already become more friendly to the crypto industry by rescinding SAB 121,

Crypto enthusiasts' faith is tested as an executive order, a bitcoin sell-off and the introduction of meme coins by the president and first lady mark the first 10 days of his second term.

Cryptos bearing the names of Trump family members soared this week before it became clear they had no official connection to anyone close to the president.

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 31 January 2025 - Memecoins were on the rise in 2024. Their overall market capitalisation increased from $20 billion