Hold onto your hats, folks! The past few days have been a rollercoaster ride in the crypto world, with a market cap that briefly soared to a staggering $3.8 trillion before taking a nosedive to $3.65 trillion. Talk about a wild ride!
The buzz began with none other than Donald Trump sashaying back into the White House as the 47th President. But wait, he didn't stop there! Trump decided to make a splash in the crypto ocean with his very own meme coin, aptly named Official Trump (TRUMP). It burst onto the scene on January 18, skyrocketing in value and leaving a trail of stardust behind it with a market cap of over $14.5 billion.
But, as is the meme coin tradition, what goes up must come down. TRUMP's value took a tumble, now sitting at around $38, a sharp drop from its glorious peak.
In a twist of events, Melania Trump joined the meme coin parade with her creation, Melania Meme (MELANIA). It briefly hit a whopping $2 billion market cap, with exchanges like Binance and Bybit jumping on the bandwagon. But like TRUMP, MELANIA couldn’t escape gravity's pull and dipped to around $4.50.
Meanwhile, Bitcoin (BTC) was having its own party. It shot up to an all-time high nearing $110,000, but the celebration was short-lived. After Trump's inauguration, BTC fizzled below $102,000. Maybe it was waiting for a shoutout from the podium that never came. However, it bounced back slightly, currently hovering around $102,100.
And let's not forget Ripple's native token, XRP. It was riding high at $3.30, aligning with the bullish vibes in the crypto realm. Despite the downturn, analysts are keeping their fingers crossed for a comeback, with some predicting XRP could soar to $4 or even $5.80.
So, buckle up, crypto enthusiasts! The world of digital currency is as unpredictable as ever, but that's what makes it so thrilling. Who knows what tomorrow will bring?
