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Bitcoin’s ATH, Meme Coin Mania, and Other Crypto Highlights from Trump’s Inauguration

Bitcoin’s ATH, Meme Coin Mania, and Other Crypto Highlights from Trump’s Inauguration

CoinspaidmediaCoinspaidmedia2025/01/21 14:33
By:Coinspaidmedia

Ahead of Donald Trump’s official inauguration as President of the United States, the crypto market experienced a surge of activity, leading to a new all-time high (ATH) for Bitcoin and other developments.

Bitcoin’s ATH, Meme Coin Mania, and Other Crypto Highlights from Trump’s Inauguration image 0

On the eve of Donald Trump’s inauguration, Bitcoin soared to $108,786, marking an ATH, according to CoinGecko. On some cryptocurrency exchanges, the asset traded above $109,000. The total crypto market capitalization briefly approached $4 trillion.

However, after the President officially assumed office, cryptocurrencies weren’t mentioned among his administration’s policy priorities. Nor were they addressed in public speeches or in executive orders signed on his first day. As a result, by 11:00 a.m. (GMT+2) on January 21, 2025, Bitcoin’s price fell 5% in 24 hours, while the total market cap of cryptocurrencies dropped by more than 6%.

Despite Donald Trump’s silence, industry experts believe digital assets will play a significant role in the new administration’s policies. For example, Jeremy Allaire, CEO of Circle, told Reuters he expects the U.S. President to issue an order allowing banks to offer custody, investment, and trading services for cryptocurrencies. Allaire also anticipates the repeal of Staff Accounting Bulletin (SAB) 121, which made it economically disadvantageous for companies to hold crypto-assets on their balance sheets.

During his campaign, Donald Trump repeatedly expressed his intention to include Bitcoin in the U.S. strategic reserves if reelected, promising to make the country the “crypto capital of the planet.”

Meme Coin Market Boom

In the lead-up to his inauguration, on January 18, 2025, Donald Trump announced the launch of his own meme coin, Official Trump (TRUMP). The asset caused a frenzy within the crypto community, with its price surging by over 800% at one point and its market cap reaching $14.5 billion.

The following day, on January 19, Melania Trump, the new First Lady, introduced her own meme coin, Official Melania Meme (MELANIA). The token’s market capitalization peaked at $2.2 billion.

Both meme coins were launched on the Solana blockchain. Amid the hype, SOL hit a new ATH. However, the blockchain and its protocols occasionally experienced technical issues due to the increased network load.

Amid the hype, hundreds or even thousands of meme coins related to the Trump family were created, but none were official. Many of these tokens misled investors by transferring a significant portion of their supply to the address of CIC Digital LLC, a Trump-affiliated entity owning 80% of TRUMP’s total supply.

The Trump family had to publicly deny any connection to these tokens. Nevertheless, some traders suffered significant losses. For instance, an anonymous trader reportedly lost around $1 million investing in a meme coin named BARRON, falsely linked to the President’s son Barron Trump, according to Lookonchain analysts.

Max Krupyshev, CEO of CryptoProcessing by CoinsPaid , described TRUMP as fundraising on steroids that attracts the crypto community, generates hype, and raises funds for PR campaigns. “Even if TRUMP never finds a real use case, it’ll remain a significant token simply because it’s a Trump project. The fact that one of the world’s most influential figures is launching his own token sets a precedent for the entire industry,” Krupyshev said. He added that meme coins are purely speculative instruments, akin to playing roulette.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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