The cryptocurrency market saw a major decline following Donald Trump’s swearing-in ceremony. Apparently, as Trump did not highlight cryptocurrency in his inauguration speech, the crypto space took a nosedive with the price of Bitcoin retesting its low of $102,000.
Notably, leading marketers had been speculating about the possibility of such an event occurring after Trump’s memecoin launched Friday evening. Despite his active participation in the crypto-verse, Trump’s ignorance towards cryptocurrency in his speech created a FOMO-like situation in the market.
Historic Trump Token Market Trend Repeats!
It appears that the Solana-based Trump coin and Melania Memecoins have seen a sharp drop in their respective valuations in the short period following Trump’s speech. Additionally, top altcoins saw similar price action, with leading altcoins breaking their important support levels.
In line with historical market sentiments, a similar situation was recorded during the election campaign. Notably, PolitiFi meme coins took over the crypto space, but on election day, the category witnessed a catesprophic collapse of over 60% of its valuation in 48 hours.
To understand the long-term possibilities of this meme coin, read Trump Coin Price Prediction!
Trump Coin drops 23% in just a few minutes!
The Solana-based Trump Meme Coin fell more than 23% in just one hour. As Donald Trump does not mention cryptocurrency in his inauguration speech, the crypto community reacts negatively, resulting in a loss of more than 1% of the global crypto market valuation.
With a trading volume of $39.11 billion, TRUMP price fell by 23.11% in the last hours and by 38.83% in the last 24 hours. Additionally, this altcoin lost its position in the top 20 cryptocurrencies and currently occupies the 23rd position with a market capitalization of $8.52 billion.
MELANIA Memecoin crashes by 28%!
The Melania Trump Meme Coin is experiencing similar faith with a sharp drop of 28.86% in the last hour. Additionally, with a trading volume of $6.17 billion, it erased 22.56% of its valuation in the last 24 hours.
Melania coin price is currently trading below its listing price within 24 hours, highlighting increased bearish sentiment for the altcoin in the crypto space.
Wondering if SOL Coin price will reach $500 in 2025? Read CoinPedia Solana Price Prediction!
FAQs
While Donald Trump did not mention cryptocurrency in his inauguration speech, the crypto market has declined sharply.
Given current market sentiment, Trump coin is highly volatile, highlighting growing uncertainty.
Following the market correction, Melania Trump’s coin recorded a new all-time low of $5.51 today.
At the time of writing, the value of one MELANIA Trump memecoin was $5.57.