{"id":8792,"date":"2025-01-21T08:04:27","date_gmt":"2025-01-21T08:04:27","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=8792"},"modified":"2025-01-21T08:04:27","modified_gmt":"2025-01-21T08:04:27","slug":"record-breaking-bitcoin-surges-past-109000-on-trumps-presidential-inauguration-day","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=8792","title":{"rendered":"Record-Breaking Bitcoin: Surges Past $109,000 On Trump\u2019s Presidential Inauguration Day"},"content":{"rendered":"
\n

The market\u2019s leading cryptocurrency, Bitcoin (BTC), has reached a new all-time high<\/a>, soaring past the $109,000 mark on Monday as anticipation builds around the inauguration of incoming President Donald Trump.\u00a0<\/p>\n

Trump Family\u2019s Memecoins Create Market Stir<\/h2>\n

According to CNBC, this surge can be partly attributed to the recent launch of two memecoins by the Trump family.\u00a0Over the weekend, Trump unveiled the \u201cOfficial Trump\u201d (TRUMP) memecoin, which skyrocketed to a market capitalization of $10.6 billion, reflecting an astonishing increase of over 659% since its Friday debut.\u00a0<\/p>\n

However, the TRUMP memecoin has experienced some volatility<\/a>, dropping approximately 27% from its peak price of around $73 per coin on Monday.<\/p>\n

Adding to the excitement, Melania Trump launched her own memecoin, aptly named \u201cMelania,\u201d which began trading Sunday evening. The memecoin has managed to establish a $1.3 billion market cap and has seen a 14% increase since its launch.\u00a0<\/p>\n

The introduction of the Melania memecoin has significantly impacted the value of the official Trump coin. At one point, TRUMP nearly halved its market cap<\/a>, dropping from its previous position as the 12th largest cryptocurrency to now ranking 22nd in terms of market capitalization.\u00a0<\/p>\n

Despite the inherent risks associated with memecoins, the report observes that these launches have instilled a renewed sense of optimism among traders, suggesting that the incoming administration may adopt a favorable stance towards cryptocurrency.\u00a0<\/p>\n

Joel Kruger, a market strategist at LMAX, noted <\/a>that this initiative signals President Trump\u2019s commitment to the crypto space, emphasizing that Americans should have the freedom to explore emerging asset classes.<\/p>\n

\u201cThe move highlights President Trump\u2019s embrace of crypto and belief that Americans should have the freedom to operate in the emerging asset class,\u201d Kruger stated.\u00a0<\/p>\n

The expert further elaborated that endorsing memecoins\u2014often viewed as the most speculative segment of the cryptocurrency market\u2014sends a powerful message of support for the industry.<\/p>\n

Echoing this sentiment, economist Noelle Acheson, author of the \u201cCrypto is Macro Now\u201d newsletter, described the memecoin launches as a positive development, reflecting Trump\u2019s openness to new ideas and markets.<\/p>\n

Optimism Surrounds Bitcoin: Analysts Predict $130,000 Target<\/h2>\n

Bitcoin\u2019s recent rally began gaining momentum last week amid speculation that Trump might announce an executive order prioritizing cryptocurrency early in his presidency.\u00a0<\/p>\n

Gracy Chen, CEO of the crypto exchange<\/a> Bitget, pointed out that this optimism is significantly influencing Bitcoin\u2019s price trajectory. \u201cRumors that cryptocurrency may be declared a national interest by the United States during the inauguration are having a positive effect on the price of Bitcoin,\u201d Chen explained.\u00a0<\/p>\n

Chen cautioned, however, that the launch of the Trump family tokens has redirected some capital that could have fueled Bitcoin\u2019s growth further.\u00a0<\/p>\n

Looking ahead, analysts remain optimistic about Bitcoin\u2019s potential. With its price breaking the $109,000 barrier, some experts, including Kruger, speculate that it could extend even further, with $130,000 as a possible target.\u00a0<\/p>\n

\"Bitcoin\"<\/p>\n

At the time of writing, BTC is consolidating at around $107,730 after a slight 0.5% decline in the last few hours of trading prior to Trump\u2019s inauguration.\u00a0<\/p>\n

Featured image from DALL-E, chart from TradingView.com <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The market\u2019s leading cryptocurrency, Bitcoin (BTC), has reached a new all-time high, soaring past the $109,000 mark on Monday as anticipation builds around the inauguration of incoming President Donald Trump.\u00a0 Trump Family\u2019s Memecoins Create Market Stir According to CNBC, this surge can be partly attributed to the recent launch of two memecoins by the Trump […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-8792","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/8792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8792"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/8792\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}