Key Takeaways The official TRUMP and MELANIA meme coins saw massive price declines over the past couple of days, as Donald Trump was inaugurated as the 47th President of the United States.Bitcoin, on the other hand,

Within hours, TRUMP skyrocketed in value, climbing from pennies to over $50, with a market cap over $10 billion. The coin now ranks among the world’s top 20 digital assets, attracting both investors and critics. Trump’s business arm holds 80% of the tokens, set to release gradually during his presidency.

"God candle," Samson Mow, a bitcoin developer who leads the Jan3 bitcoin wallet company, posted to X and referring to a sudden spike in the bitcoin price that creates a "candle" on a trading chart as the bitcoin price suddenly soared, hitting $109,400 on the Coinbase bitcoin and crypto exchange.

BTC has pulled back to $100K as Melania Trump launched her own memecoin, stalling the surge in the TRUMP token.

Bitcoin hit a record $109,241 as the US readies for pro-crypto President-elect Donald Trump’s inauguration. The cryptocurrency surged 5.5% amid excitement over Trump’s meme coins, despite a subsequent market decline.

"I think he is excited about it. I mean, he really wants to be the first bitcoin president," Coinbase ( COIN) CEO Brian Armstrong told Yahoo Finance at the World Economic Forum in Davos, Switzerland. Armstrong met with Trump before and after the election to advocate for the crypto industry.

Bitcoin hit a new all-time high overnight as investors prepare for the crypto-friendly Trump administration to take office.

But as his presidency approached, he also offered more specific support to the cryptocurrency market. After the launch of his own $TRUMP coin, his wife launched her own $MELANIA competitor – the combination of which led to volatility in the cryptocurrency market.

Trump and Melania-themed digital tokens minted billions on paper for the first family while raising conflict-of-interest and foreign-influence concerns.

Skybridge founder and former Trump insider Anthony Scaramucci says new meme coins from President Trump and First Lady Melania Trump are super high risk.

Melania Trump launched her own cryptocurrency, $MELANIA, following the success of her husband’s $TRUMP meme coin. Analysts see profit potential in $TRUMP, but ethics experts criticize it as exploiting the presidency. Meme coins like $TRUMP and $MELANIA are highly speculative, with limited utility and significant risks for traders.