The newly launched $trump and U.S. first lady Melania Trump's $melania memecoins have each plummeted as traders cash

After skyrocketing over the weekend, the the TRUMP and MELANIA meme coins came crashing a day after President Donald Trump took office.

BTC has pulled back to $100K as Melania Trump launched her own memecoin, stalling the surge in the TRUMP token.

Bitcoin hit a new all-time high overnight as investors prepare for the crypto-friendly Trump administration to take office.

"God candle," Samson Mow, a bitcoin developer who leads the Jan3 bitcoin wallet company, posted to X and referring to a sudden spike in the bitcoin price that creates a "candle" on a trading chart as the bitcoin price suddenly soared, hitting $109,400 on the Coinbase bitcoin and crypto exchange.

Key Takeaways Trump signed an executive order on digital assets, seeking recommendations on regulations and possibly setting up a digital stockpile.The SEC has already become more friendly to the crypto industry by rescinding SAB 121,

Data shows TRUMP amassed over $19 billion in volumes over a 24-hour period, while MELANIA saw $4.5 billion exchange hands.

Crypto enthusiasts' faith is tested as an executive order, a bitcoin sell-off and the introduction of meme coins by the president and first lady mark the first 10 days of his second term.

Bitcoin and other cryptocurrencies recoiled after Trump's first set of policies following inauguration did not refer to this asset class.

The investment strategy of Truth.Fi will be guided by financial services firm Charles Schwab, which will oversee asset custody and provide advisory services. While Schwab does not currently facilitate direct trading in cryptocurrencies like bitcoin, it has indicated it would explore the space if regulatory conditions allow.

Memecoins are a dynamic capital formation technology with implications for policy making and politics, says Youbi Capital’s Ivo Entchev.