Alright folks, buckle up for a wild ride in the crypto world! The weekend was anything but dull with Donald Trump making waves by launching his very own meme coin, cleverly named Official Trump (TRUMP). This new digital darling didn't just tiptoe into the market; it exploded in spectacular fashion, catapulting its market value to a jaw-dropping $14.5 billion at one point. It even managed to outshine some famous meme coins like Shiba Inu (SHIB) for a hot minute. However, like a fireworks show, it eventually fizzled a bit, and now its market cap hovers around $9.9 billion.
Some shrewd traders saw their fortunes rise significantly, cashing in on this rollercoaster ride. But hold your horses! Not everyone is convinced that grabbing TRUMP at a whopping $70 per coin is a wise move. Enter the ever-astute crypto analyst Michael van de Poppe, who suggests that it’s better to keep an eye on altcoins that took a dive over the weekend—think Binance Coin (BNB), Dogecoin (DOGE), and yep, Shiba Inu (SHIB) too.
Michael's timely advice came just in the nick of time before these coins began their recovery, painting the charts green with significant gains. This aligns with the overall bullish mood sweeping across the crypto landscape. And get this, Bitcoin hit an all-time high of nearly $110,000 just before Trump’s inauguration as the 47th President of the United States.
Things took a turn when Melania Trump launched her own meme coin, causing TRUMP to dip below $70 and settle around $50. It's a wild world out there, so investors should tread carefully in this volatile market. Remember, a whopping 80% of TRUMP's supply is in the hands of two entities connected to the Republican side—CIC Digital LLC and Fight Fight Fight LLC. This centralized control means these entities can sway the coin's market performance, especially if they decide to unload their holdings. So, stay sharp and keep your eyes peeled on this thrilling crypto saga!
