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

"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.

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

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, other cryptocurrencies and even the newly minted token bearing Donald Trump's name cooled on Tuesday, after the U.S. president's first set of policies following his inauguration made no reference to the 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.

Melania Coin, launched on January 20, 2025, surged initially to a market cap of $2 billion but has since plummeted over 70%, falling to $4.03. Similarly, Trump Coin, launched on January 17, has dropped by 43%,

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,

President Donald Trump’s goodwill in the cryptocurrency industry has taken a hit after he and his wife launched meme coins — a move critics say looks like an unseemly cash grab that undermines an effort to legitimize digital assets.

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