Donald Trump’s new meme coin, OFFICIAL TRUMP (TRUMP), may have lost its momentum after peaking at over $75 mark due to the launch of Melania Trump’s token (MELANIA). However, the TRUMP token can now be seen making a huge recovery ahead of the major inauguration event.
Trump’s return to the White House today has left markets bracing for impact. Investors are closely watching his inauguration speech as they expect insights into policies on crypto, trade, and immigration. After witnessing a minor pullback yesterday, the digital assets market printed green indexes signaling a welcome gesture for the self-acclaimed “Crypto President”.
OFFICIAL TRUMP makes a comeback
Launched just a few days before his return to the White House, TRUMP price is recovering rapidly. The meme token has added gains of over 23% in the last 24 hours and even regained the $60 mark. OFFICIAL TRUMP’s 24 hour trading volume is skyrocketing by 345% to stand at $52.4 billion with a market cap of $11.67 billion.
As per the data, TRUMP token price fell sharply from the $75 to around the $45 zone and then skitted down to the $34 area just after MELANIA’s launch. The token linked to Melania Trump gained over 69% in the last 24 hours, trading at an average price of $12.34, at press time. MELANIA has detracted massively from the first token which has caused some bad losses for many investors.
GMGN data suggests that the largest profitable address holding MELANIA (4zo6CY…kqzHF2) spent 800K USDC to accumulate 3.8 million of the tokens at an average price of $0.208. The wallet has sold half of the holdings at an average price of $8.583, booking a profit of $38.6 million. It still holds unrealized profit is $22.6 million.
Trump will set the tone for 2025
Trump, now branding himself as a “crypto president,” promises executive orders to cut red tape and boost adoption. The major crypto leaders are watching closely every move made by the administration. Meanwhile, the dollar stood slightly weak but still remained near a 26-month high. The yen tried to hold its ground at 155.98 per dollar amid speculation the Bank of Japan might hike rates this week. If this happens then it would be the first instance seen since 2008.
Goldman Sachs has warned of potential market volatility as Trump’s tariff policies come into focus. Traders are expecting gradual rollouts as any aggressive moves could shake currency markets globally. Trump’s first day promises to set the tone for 2025.
The Bitcoin price is already riding bullish waves. The biggest crypto has surged more than 80% since November. BTC is trading at an average price of $108,037, at press time. It again registered a fresh all time high of $109,114 on Monday morning, setting the tone for the day. Bitcoin’s 24-hour trading volume is up by whooping 124% to stand at $111.48 billion. The cumulative crypto market is up by 3% over the last day to stand at $3.73 trillion.
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