Bitcoin Slides to $100K, TRUMP Falls 30% While Melania Memecoin Soars.

Bitcoin Dips to $100K as Melania Trump’s Memecoin Launch Causes TRUMP Token to Fall 30%

Bitcoin (BTC) experienced a pullback to $100,000 during Monday’s Asia trading session, as a surge of activity surrounding the TRUMP and MELANIA memecoins impacted the broader crypto market.

The leading cryptocurrency briefly dropped below the $100,000 mark, reflecting a 4.5% decrease over the last 24 hours. Other major coins like ETH, XRP, SOL, and BNB saw even bigger losses, with ADA and DOGE dropping more than 10%, according to data from CoinDesk and CoinGecko.

The TRUMP memecoin, tied to President-elect Donald Trump, dropped by 30% to $49 after its Saturday debut, as Melania Trump launched her own memecoin, MELANIA.

In a Sunday post on X, Melania Trump announced the launch of her memecoin, saying, “The Official Melania Meme is live! You can buy $MELANIA now.” The MELANIA token, which operates on the Solana blockchain, has quickly gained attention as a fungible cryptocurrency.

Following the announcement, MELANIA skyrocketed by 24,000%, reaching a peak price of $13, which many believe drained liquidity from the TRUMP token. The TRUMP token had been the most traded asset on Binance over the weekend but saw a dramatic drop as the new MELANIA token surged in popularity.

Some market analysts believe that the explosive rise of MELANIA signals the start of the “FOMO” phase in the ongoing bull market, which could lead to a major correction in Bitcoin’s price.

However, Jeff Dorman, CIO at Arca, sees the TRUMP token launch as a breakthrough, signaling the end of regulatory concerns that have hindered crypto for years. “For over three years, the main barrier for token issuers and investors in the U.S. was regulatory uncertainty. With the President himself involved in both issuing and investing in a token, that concern is gone,” Dorman explained on X.

Dorman further stated, “The launch of the TRUMP token signals to companies, governments, and individuals that crypto can be used effectively for capital formation and customer growth.”

As Trump’s inauguration approaches, there is growing speculation that he may sign an executive order on his first day in office, announcing the creation of a strategic Bitcoin Reserve to further cement cryptocurrency’s role in the U.S. economy.