Donald Trump’s new meme coin, Trump Official (TRUMP), may have lost momentum after peaking at over $75 due to the launch of the Melania Trump token (MELANIA). However, the TRUMP token can now be seen making a significant rebound ahead of the grand opening event.
Trump’s return to the White House today has markets bracing for the impact. Investors are closely watching his inauguration speech as they anticipate insights on policies related to cryptocurrencies, trade, and immigration. After witnessing a slight decline yesterday, the digital asset market printed green signals indicating a welcome gesture to the self-proclaimed “Cryptocurrency President”.
Trump’s official return
Launched just days before his return to the White House, Trump’s price is recovering quickly. The meme token added more than 23% gains over the past 24 hours and reclaimed the $60 mark. Trump’s official 24-hour trading volume rose 345% to $52.4 billion with a market cap of $11.67 billion.
According to the data, the price of the TRUMP token fell sharply from $75 to around the $45 region and then fell to the $34 region right after Melania’s launch. The token linked to Melania Trump has gained more than 69% over the past 24 hours, trading at an average price of $12.34, at press time. Melania has massively detracted from the first token which has caused some bad losses for many investors.
GMGN Data It indicates that the largest profitable address holding MELANIA (4zo6CY…kqzHF2) spent $800,000 to accumulate 3.8 million tokens at an average price of $0.208. The portfolio sold half of its holdings at an average price of $8,583, realizing a profit of $38.6 million. It still maintains unrealized gains of $22.6 million.
Trump will set the tone in 2025
Trump, who now describes himself as a “crypto president,” promises executive orders to cut red tape and boost adoption. Major cryptocurrency leaders are closely monitoring every move the administration makes. Meanwhile, the dollar remained somewhat weak, but remained near a 26-month high. The yen tried to maintain its position at 155.98 against the dollar amid speculation that the Bank of Japan may raise interest rates this week. If this happens, it will be the first time since 2008.
Goldman Sachs warned of potential market volatility, focusing on Trump’s tariff policies. Traders expect a gradual rollout as any strong moves could shake currency markets globally. Trump’s first day promises to set the tone for 2025.
Bitcoin price is already riding bullish waves. The largest cryptocurrency has risen more than 80% since November. BTC is trading at an average price of $108,037 at press time. It once again hit a new all-time high of $109,114 on Monday morning, setting the tone for the day. Bitcoin’s 24-hour trading volume rose 124% to $111.48 billion. The cumulative cryptocurrency market rose 3% over the last day to reach $3.73 trillion.
A step-by-step system to start your career at Web3 and get high-paying coding jobs in 90 days.