Record-Breaking Bitcoin and Trump Meme Coin Craze
With Bitcoin soaring to its ATH and Trump meme coins trending, traders are left questioning whether these developments mark a fundamental market shift or a speculative bubble.
Bitcoin reached a new all-time high amid preparations for Donald Trump’s second inauguration. The spike followed a weekend of market excitement triggered by the release of the TRUMP meme coin.
BTC climbed 5.5% on Monday to hit $109,241, coinciding with the debut of TRUMP and MELANIA meme coins by Donald and Melania Trump, now collectively valued at over $12 billion.
Other leading cryptos joined the rally: ETH increased 5.39% to $3,365, XRP gained 6.4% to hit $3.30, and SOL shot up by 20% over two days to reach $258.
As Trump’s White House comeback draws nearer, traders are eager to see what’s next. Bloomberg suggests he may issue an executive order positioning cryptocurrencies as a “national priority.”
The release of TRUMP and MELANIA meme coins has polarized the crypto world, dividing participants into doubters and enthusiasts.
Skeptics fear this may pave the way for other celebrities to take advantage of inexperienced traders, accusing the creators of the Trump family’s meme coins of orchestrating Pump & Dump practices.
The TRUMP coin, according to its proponents, has given a new impetus to crypto-positive policy discussions, both within the U.S. and on the global stage.
Trump’s stance on cryptocurrency took a sharp turn during his campaign, where he embraced the industry after having labeled Bitcoin a scam. He pledged to establish the U.S. as a global crypto leader, with ambitious plans including the creation of a strategic Bitcoin reserve.
Meme Coins — A Passing Fad or a Lucrative Opportunity?
These highly volatile cryptocurrencies with little intrinsic value rise and fall based on social media popularity, celebrity backing, and innovative ideas. However, statistics reveal that traders successfully profit from only 0.4% of meme coins.
Trump’s token launch over the weekend caused a ripple effect in the crypto market. New investors dove in, buying TRUMP with fiat, while crypto veterans redirected liquidity from other altcoins.
Influencers see meme coins on an upward trajectory, crediting their appeal to a growing acceptance of cryptocurrencies among the general public. Mindshare figures for TRUMP and MELANIA highlight this trend, showing higher engagement compared to established assets.
Data from Kaito AI reveals Mindshare levels of 12.8% for TRUMP and 6.8% for MELANIA, while BTC and ETH sit at 7.8% and 9.9%, respectively.
Cryptocurrency Mindshare Snapshot: January 20, 2025. Source: x.com
The future implications of TRUMP’s launch are difficult to foresee. What lies ahead for the token? Will meme coins maintain their popularity throughout the year? And will the Trump family roll out additional coins? For now, we can only wait and see.
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