The memecoin market, led by Dogecoin (DOGE) and Shiba Inu (SHIB), has seen a surge in daily trading volume, largely thanks to the launch of memecoin projects linked to Donald and Melania Trump.
On Monday, January 20, during the first session in New York, the 24-hour average trading volume for these memecoins jumped more than 118%, reaching approximately $80 billion. This spectacular increase reflects growing enthusiasm in the memecoin sector, driven by new large-scale projects.
The high liquidity of TRUMP and MELANIA memecoins has attracted more traditional investors to the cryptocurrency sector. On the Solana Network (SOL)Several DeFi protocols – led by the Phantom wallet – reported huge transaction congestion leading to major outage and rising fees.
Trump Election Victory Boosts FOMO in Crypto
The impact of Donald Trump’s victory in the recent elections, continues to influence the world of cryptocurrency. His victory sparked trading FOMO (Fear of Missing Out), especially in the memecoin sector. Ki Young Ju, founder and CEO of CryptoQuant, predicts that the memecoin industry will see significant growth under the Trump administration.
He believes that decentralized cryptocurrencies will remain at the heart of the global financial system in the years to come.
“Like it or not, let’s admit it and prepare for the next wave,” Ju note.
The combination of Elon Musk 
Elon Musk Elon Musk is the co-founder of Tesla, investor and entrepreneur. He was born on June 28, 1971 and is based in Pretoria, South Africa. He graduated from the University of Pennsylvania, where he received a bachelor’s degree in arts and physics, and from the Wharton School, where he received a bachelor’s degree in science and economics. In 2003, Musk founded Tesla, an electric vehicle and clean energy company. Elon Musk is a crypto enthusiast, he has a complex relationship with cryptocurrency. He purchased $1.5 billion worth of cryptocurrency. Musk received the Axel Springer Prize, an award given to innovative people who create new markets, change markets and contribute to society. He was also featured on Forbes Billionaire with a total net worth of $2 billion. (email protected) EntrepreneurInvestorGeneral manager 
who is a strong supporter of Dogecoin, and Donald Trump is expected to bring more money into the cryptocurrency market. Additionally, Musk’s X Platform, which is expected to launch X Payments in 2025, has already obtained money transfer licenses in over 30 US states, paving the way for wider adoption of cryptocurrencies.
Watch for carpet pulls!
Despite the enthusiasm, Ju urges caution among memecoin traders. He warns that celebrity-led projects often carry a risk of failure, particularly because many of these projects lack strong fundamentals. Since most memecoins are speculative in nature, Ju emphasizes the need to conduct careful research before investing in new tokens.
“If a famous coin issuer avoids pulling the rug out and takes responsibility for its sales, it’s not as harmful as you might think. Even Bitcoin had its share of pyramid scheme promoters in the early days, selling to elderly investors,” Ju added.
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The memecoin craze may be at its height today, but as the market matures, investors will need to remain cautious to find true long-term success.
FAQs
High transaction volumes of TRUMP and MELANIA memecoins have overwhelmed Solana DeFi protocols, causing outages and fee hikes.
Musk’s support for Dogecoin and Trump’s influence could generate significant liquidity inflows, fueling memecoin’s growth in the crypto market.