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$TRUMP Dips Below $60 as Bitcoin Retraces to $102k

Twitter icon  •  Published 5 hours ago on January 20, 2025  •  Hassan Maishera

Trump’s official memecoin is trading below $60 after hitting $83 following its excellent debut, with Bitcoin also retracing to $102k after hitting $106k over the weekend.

$TRUMP Dips Below $60 as Bitcoin Retraces to $102k

TL;DR

  • Donald Trump’s official memecoin has dipped below $60 after rallying above $80 within 48 hours of its launch.

  • Bitcoin has retraced to $102k after hitting $106k over the weekend.

TRUMP Token Dips Below $60 Following its Excellent Debut

$TRUMP, the official token of President-elect Donald Trump, has dipped below the $60 mark after an excellent debut. The token launched during the early hours of Saturday on the Solana blockchain.

Within 48 hours, it has grown to become one of the top 20 cryptocurrencies by market cap. The rally allowed $TRUMP to set a new all-time high price of $83. However, it has now retraced and currently trades at $58 per coin, with a market cap of $11.7 billion.

The memecoin frenzy over the weekend also saw Solana’s SOL hit a new all-time high. SOL was trading at $294 per coin on Sunday, surpassing the previous all-time high price of $275. 

Meanwhile, Bitcoin, the leading cryptocurrency by market cap, reached the $106k mark over the weekend. However, it has dipped slightly and now trades around $102k per coin.

The market volatility comes as traders prepare for Donald Trump’s inauguration as the 47th president of the United States later today. 

A few hours ago, Trump's wife, Melania, launched her own memecoin, MELANIA. The Melania token is already the 65th-largest cryptocurrency by market cap and now trades at $10.58 per coin. The token rallied by nearly 24,000% to hit an all-time high of $13 before retracing to $10.

Some market experts believe that the massive trading volume recorded byTRUMP and MELANIA coins represents the FOMO phase of the bull market and could lead to a notable Bitcoin price correction.

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.

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