Donald Trump’s favorite cryptocurrency, OFFICIAL TRUMP (TRUMP), is also on the rise. It rose to $60 after a significant drop on Wednesday.
This increase is due to market signals that follow Trump back to the White House with the inauguration speech to boost investors’ hopes. This token, which skyrocketed to trading above $75, faced stiff competition from introducing Melania Trump’s MEME coin, commonly known as MELANIA, but it seems to be back in business.
OFFICIAL TRUMP sees strong recovery
After a turbulent week, the TRUMP token appreciated a stunning 23% in the last 24 hours; its trading volume surged by 345% to $52.4 billion. The TRUMP token’s market capitalization is currently $11.67 billion. From a low of $34 during MELANIA’s launch, the TRUMP token is getting attention from investors again, helping it break the $60 level.
Melania’s token has received much attention on social media, and its performance compared to others is also impressive. MELANIA’s online trading has increased by 69 percent within the last 24 hours, and the average price per stock is now $12.34. Wallet data also reveals that one of the most successful MELANIA investors invested $800,000 in 3.8m tokens at an average of $0.208 each. This investor has made $38.6m in sales proceeds by selling 50% of the stake and has unrealized gains of $22.6m.
Inauguration sparks optimism
Crypto investors closely monitor Trump’s inauguration as the new president brands himself as a “crypto president.” Promising to streamline regulations and encourage digital asset adoption, Trump’s administration is expected to introduce policies that could shape the industry’s future.
Meanwhile, global markets are bracing for potential volatility tied to Trump’s tariff policies. Goldman Sachs has cautioned investors to prepare for shifts in currency markets, with gradual rollouts anticipated to mitigate risks.
Bitcoin surges to new highs
Bitcoin seemed to be operating on an ascending trend before the inauguration, with the bitcoin going for as high as $109,114. BTC has increased by over 80% since November, and the total trading volume over the past 24 hours is $111.48 billion. The crypto market has expanded by $115 billion in the last 24 hours, extending to over $3.73 trillion. Speculators are paying attention to Trump’s administration since today’s activities are believed to provide signals for the following year.