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Following President Donald Trump's inauguration on January 20, 2025, the cryptocurrency market experienced notable fluctuations. The $TRUMP token, associated with the president, initially surged to $74.59 but then declined by over 20% within 24 hours, stabilizing around $38.
In addition to the $TRUMP token, First Lady Melania Trump introduced the $MELANIA coin, which also saw a significant drop, trading at approximately $2.60 after an 80% decrease from its peak.
These developments coincide with President Trump's executive order, "Strengthening American Leadership in Digital Financial Technology," which aims to protect banking services for crypto companies and establish a high-level working group to deliver regulatory recommendations by July.
While the administration's pro-crypto stance has been welcomed by many in the crypto community, the volatility of the $TRUMP and $MELANIA tokens highlights the speculative nature of such investments. Investors should remain cautious and stay informed about ongoing regulatory developments.