{"id":37664,"date":"2025-01-21T09:44:38","date_gmt":"2025-01-21T09:44:38","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=37664"},"modified":"2025-01-21T09:44:38","modified_gmt":"2025-01-21T09:44:38","slug":"extreme-meme-coin-volatility-bitcoins-btc-new-ath-and-more-bits-recap-jan-21","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=37664","title":{"rendered":"Extreme Meme Coin Volatility, Bitcoin\u2019s (BTC) New ATH, and More: Bits Recap Jan 21"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Trump-related tokens soared before plunging by double digits, reflecting the meme coin market\u2019s volatility.
\nBitcoin (BTC) hit an all-time high of almost $110K but dropped to $102K after Trump\u2019s inauguration, which lacked crypto mentions.
\nRipple (XRP) peaked at $3.30 before dipping to $3.08, though analysts remain optimistic about a potential rally.<\/p>\n

<\/a><\/span><\/h2>\n

Trump-Themed Memes Went Crazy<\/h2>\n

The past several days have been more than eventful for the cryptocurrency industry, whose global market capitalization briefly surpassed $3.8 trillion on January 20 before plunging to its current $3.65 trillion (per CoinGecko\u2019s data).<\/span><\/p>\n

Perhaps the most apparent reason for the enhanced volatility was the hype surrounding Donald Trump\u2019s official return to the White House as America\u2019s 47th President. <\/span>Besides<\/span> taking center stage on the political scene, the Republican also made waves in the crypto sector, launching a meme coin of his own.<\/span><\/p>\n

The token, <\/span>called<\/span> Official Trump (TRUMP), <\/span>saw the light of day<\/span><\/a> on January 18. Shortly after, it experienced a spectacular price increase, and<\/span>\u00a0its market capitalization surged past $14.5 billion.<\/span>\u00a0<\/span><\/p>\n

As it often happens in the meme coin niche, though, the rally <\/span>was followed<\/span> by a painful correction. TRUMP is <\/span>currently<\/span> worth approximately $38, representing a nearly 50% decline from its peak.
\n<\/span><\/p>\n

<\/a>TRUMP Price, Source: CoinGecko<\/p>\n

Interestingly, the price started retracing minutes after Melania Trump (Donald Trump\u2019s wife) also<\/span>\u00a0jumped<\/span><\/a> on the meme coin bandwagon. She introduced Melania Meme (MELANIA), which at one point reached $2 billion in market cap. This rise was likely fueled by Binance, Bybit, and other leading crypto exchanges, which <\/span>allowed<\/span><\/a> trading services with the asset.\u00a0<\/span><\/p>\n

Similar to<\/span> TRUMP, though, MELANIA headed south in the following hours and is currently trading at around $4.50 (a 50% plunge on a 24-hour scale).<\/span><\/p>\n

<\/a>MELANIA Price, Source: CoinGecko<\/p>\n

BTC\u2019s New Peak<\/span><\/h2>\n

The primary cryptocurrency <\/span>experienced severe turbulence, too<\/span>. As <\/span>CryptoPotato<\/span><\/em> reported<\/span><\/a>, its price skyrocketed to <\/span>a new<\/span> all-time high of almost $110,000 on January 20.<\/span>\u00a0<\/span><\/p>\n

However, as the day progressed, BTC started losing steam. It <\/span>tumbled<\/span><\/a> below $102,000 minutes after Donald Trump\u2019s inauguration. The Republican touched upon numerous topics during his speech but did not mention the cryptocurrency industry <\/span>at all<\/span>, which might explain why the asset underperformed.\u00a0<\/span><\/p>\n

In the following hours, BTC reached a local bottom of around $100K before the bulls stepped in and pushed the valuation to the current $102,100.<\/span><\/p>\n

<\/a>BTC Price, Source: CoinGecko<\/p>\n

XRP\u2019s Price Swings<\/span><\/h2>\n

Last but not least, we will focus on Ripple\u2019s native token, whose price<\/span>\u00a0surpassed<\/span><\/a> $3.30 at one point on January 20. Its solid performance coincided with the bullish environment in the entire crypto space and the increased whale activity.\u00a0<\/span><\/p>\n

Nonetheless, the market decline in the past several hours has negatively affected XRP, and as of this writing, it is trading at roughly $3.08.\u00a0<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

Despite the volatility, many analysts remain optimistic that a new ATH is <\/span>just around the corner<\/span>. <\/span>Those include CRYPTOWZRD, <\/span>who<\/span> envisioned<\/span><\/a> a rise to $4 in the short term, and Dark Defender, <\/span>who<\/span> predicted<\/span><\/a> a push toward $5.80.<\/span><\/p>\n

The post Extreme Meme Coin Volatility, Bitcoin\u2019s (BTC) New ATH, and More: Bits Recap Jan 21<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Trump-related tokens soared before plunging by double digits, reflecting the meme coin market\u2019s volatility. Bitcoin (BTC) hit an all-time high of almost $110K but dropped to $102K after Trump\u2019s inauguration, which lacked crypto mentions. Ripple (XRP) peaked at $3.30 before dipping to $3.08, though analysts remain optimistic about a potential rally. Trump-Themed Memes Went […]<\/p>\n","protected":false},"author":0,"featured_media":37665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-37664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/37664"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37664"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/37664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/37665"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}