Donald Trump and his wife launched their tokens as they took office, leading to a Bitcoin surge despite an early decline.
Donald Trump’s Token Launch
Over the weekend, Donald Trump and his wife launched their tokens, TRUMP and MELANIA. These memecoins gained attention with their rise, despite a morning decline for Bitcoin and altcoins.
Bitcoin's Record Surge and Its Causes
The decline was short-lived, and Bitcoin soon reached a new record exceeding $109,000. It's assessed that the rise is due to Trump taking office. Changpeng Zhao (CZ), former CEO of Binance, noted that what's good for memes is good for Bitcoin.
Crypto Community's Reaction
CZ's post referred to Trump's memecoin launch and rise as beneficial for Bitcoin, implying continued growth. He also stated he has no plans to launch his own memecoin.
Bitcoin trades at $108,400. The launch of Trump's tokens and Bitcoin's new record have sparked various reactions within the crypto community.
