Then, at 9 p.m., Trump pulled one over on the partygoers.

"God candle," Samson Mow, a bitcoin developer who leads the Jan3 bitcoin wallet company, posted to X and referring to a sudden spike in the bitcoin price that creates a "candle" on a trading chart as the bitcoin price suddenly soared, hitting $109,400 on the Coinbase bitcoin and crypto exchange.

Data shows TRUMP amassed over $19 billion in volumes over a 24-hour period, while MELANIA saw $4.5 billion exchange hands.

By associating himself so closely with meme coins, some crypto fans worry that Trump hurts his chances to help the wider crypto industry.

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.

Bitcoin hit a record $109,241 as the US readies for pro-crypto President-elect Donald Trump’s inauguration. The cryptocurrency surged 5.5% amid excitement over Trump’s meme coins, despite a subsequent market decline.

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

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.

It’s still early days, but the kickoff of President Donald Trump’s second term appears to have left some crypto investors disappointed so far.

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

This article was originally published on WealthyVC.com. On a historic inauguration day, the cryptocurrency market experienced an electrifying surge, led by a record-breaking performance by Bitcoin (BTCUSD) and Donald Trump’s new memecoin,