I believe the launch of TRUMP and MELANIA meme coins isn't an indictment of the crypto space but a fun way to show political support. Read my analysis.

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

Bitcoin, however, is a fundamentally different, hard asset. While the mania surrounding crypto often spills over into Bitcoin’s price movements, Bitcoin itself remains largely unaffected in the long term. It continues to progress steadily, and I believe we’ll see a full recovery soon.

Listen and subscribe to Opening Bid on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. With the new White House bullish on crypto, it’s reasonable to expect a deluge of money piling in,

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.

Bitcoin and other cryptocurrencies recoiled after Trump's first set of policies following inauguration did not refer to this asset class.

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

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.

First Lady Melania Trump launched her own meme-coin on the eve of the inauguration, which now has a value of $700m since slumping from $13 a coin to $2.70. Meme-coins are often launched for fun and used by speculators to make money or to allow fans to show support to a celebrity or moment in internet culture.

The price of bitcoin and other digital assets has soared since Trump won the US elections. A lavish "Crypto Ball" ahead of Trump's inauguration sold tickets for thousands of dollars. Now, the mood is souring.

Chainalysis reveals 94% of TRUMP and MELANIA tokens are held by 40 wallets, while retail buyers drive trading on Solana's blockchain.