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#BTC #TrumpMoment #GT Bitcoin (BTC) nursed losses during Monday's morning Asia trading hours amid frenzied trading in memecoins TRUMP and MELANIA.
The leading cryptocurrency by market value briefly dipped below $100,000, representing a 4.5% drop on a 24-hour basis. ETH, XRP, SOL and BNB posted bigger losses, with ADA and DOGE losing over 10%
TRUMP, the memecoin linked to President-elect Donald Trump, which debuted Saturday, tanked 30% to $49, as Trump's wife, Melania launched her own memecoin, MELANIA.
"The Official Melania Meme is live! You can buy $MELANIA now,” Melania Trump posted on the social platform X on Sunday. The meme coin's website describes the token as a fungible cryptocurrency created and tracked on the Solana blockchain.
The MELANIA token rallied a staggering 24,000% to a record price of $13, supposedly sucking out liquidity from the TRUMP coin, which was the most-traded digital asset on every centralize exchy wallet over the weekend.
Per some observers, the frenzied trading in TRUMP and MELANIA coins represents the FOMO phase of the bull market and could lead to a notable BTC price correction.#$TRUMP Continues to Rise