The cryptocurrency market has experienced a major pullback following the oath-taking ceremony of Donald Trump. Reportedly, with Trump failing to highlight cryptocurrency in his inauguration speech, the crypto space took a nose dive with the price of Bitcoin retesting its low of $102,000.
Notably, top marketers had speculated for such an event to occur following the launch of Trump memecoin on Friday night. Despite showing active participation in the crypto verse, Trump’s ignorance toward cryptocurrency in his speech has created a FOMO-like situation in the market.
Reportedly, the Solana-based Trump coin and Melania Memecoins have experienced a sharp plunge in their respective valuations within a short period following the Trump speech. Moreover, top altcoins have experienced a similar price action with tip altcoin breaking down their important support levels.
As per the historic market sentiments, a similar situation was recorded during the election campaign. Notably, the PolitiFi meme coins has taking over the crypto space, but on the day of the election, the category witnessed a catesprophic collapse of over 60% in valuation within 48 hours.
To understand the long-term possibilities of this meme coin, read Trump Coin Price Prediction!
The Solana-based Trump Meme Coin has dropped over 23% in just one hour. As Donald Trump fails to mention about cryptocurrency in his inauguration speech, the crypto community reacts in a negative way, resulting in the crypto market losing over 1% in its global valuation.
With a trading volume of $39.11 billion, the TRUMP price has dropped 23.11% in the past 1 hours and 38.83% in the last 24 hours. Moreover, this altcoin has lost is position in the top 20th cryptocurrencies and is currently holding the 23rd position with a market cap of $8.52 billion.
The Melania Trump Meme Coin experiences a similar faith with a sharp plunge of 28.86% in the past hour. Moreover, with a trading volume of $6.17 billion, it has erased 22.56% from its valuation over the last 24 hours.
The 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 hit $500 this 2025? Read CoinPedia’s Solana Price Prediction!
With Donald Trump failing to mention cryptocurrency in his inauguration speech, the crypto market strong bearish pullback.
Considering the present market sentiments, the Trump coin is highly volatile, highlighting rising uncertainty.
Following the market correction, the Melania Trump coin has 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.
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