Trump and Melania Meme Coins Experience Massive Decline
The official Trump meme coins and Melania meme coins saw dramatic price declines in recent days, following Donald Trump’s inauguration as the 47th President of the United States. These meme coins initially surged but experienced a sharp drop shortly after Trump took office.
Bitcoin Holds Strong Despite Market Fluctuations
Meanwhile, Bitcoin has remained resilient, holding steady around $103,000 after reaching a record high earlier in the week. Bitcoin’s price showed significant volatility but has stayed above the $100,000 mark, sparking optimism among investors.
Absence of Crypto Mentions in Trump’s Inaugural Speech
Interestingly, Trump’s inaugural speech did not mention cryptocurrency, and no executive orders were issued concerning the crypto industry. This lack of action from Trump has been a topic of discussion in the crypto community, especially after the previous surge in Bitcoin prices fueled by his pro-crypto stance and support from Congress.
TRUMP and MELANIA Meme Coins See Sharp Decline
The Trump meme coin and Melania meme coin experienced a significant drop in value after their initial success. The Trump token, launched on Friday, saw a drop of about 50% from its high on Saturday. The Melania coin, on the other hand, lost almost two-thirds (74%) of its value compared to its peak on Monday.
Bitcoin Reaches New Heights Before Inauguration
Before Trump’s inauguration, Bitcoin hit an all-time high above $109,000, but the cryptocurrency’s value has since pulled back slightly. Despite this correction, Bitcoin continues to trade well above $100,000, which many investors find reassuring.
The Impact of the Trump Inauguration on Crypto Markets
A key reason behind the meme coins’ downfall may be the absence of cryptocurrency-related policies or mentions on Trump’s first day of office. As Trump made several executive moves, there was no mention of a Bitcoin strategic reserve, a key topic that had fueled the cryptocurrency’s surge leading up to the inauguration.
Market Predictions for Bitcoin’s Future
Despite the lack of crypto focus on Day One, predictions remain optimistic. According to Polymarket, a prediction market, there’s currently a 63% chance that a Bitcoin strategic reserve will be established in the U.S. by the end of the year.
Meme Coin Launches Under Scrutiny
The launch of Trump meme coins and Melania meme coins before the inauguration has garnered significant criticism from some members of the crypto community. Concerns have been raised that these tokens were poorly timed and could negatively affect both the crypto industry and Trump’s reputation.
Castle Island Ventures Partner, Nic Carter, expressed his concerns on X, stating, “Creating a bunch of personal meme coins opens the door to secretive foreign buyers trying to curry influence with our leaders.”
Negative Feedback From Industry Experts
Messari co-founder, Ryan Selkis, also voiced criticism, suggesting that Trump was being poorly advised about the meme coin launches. Selkis tweeted on X, “Please fire whoever recommended going forward with the Melania launch today. They don’t have your interests in mind.”