Bitcoin (BTC) Drops to $100K, TRUMP Tanks 30% as Melania Memecoin Skyrockets

Bitcoin (BTC) pared losses during Monday’s Asian trading hours amid heavy trading on TRUMP and MELANIA memes.

The leading cryptocurrency by market cap fell 4.5% on a 24-hour basis, falling below $100,000. According to CoinDesk and Coingecko sources, ETH, XRP, SOL and BNB posted big losses, while ADA and DOGE lost more than 10%.

TRUMP, the memecoin associated with President-elect Donald Trump, which debuted on Saturday as Trump’s wife, fell 30% to $49. Melania launched its own memecoin, MELANIA.

“The official Melania Meme is live! You can buy $MELANIA now,” Melania Trump Posted on social platform X On sunday. The meme coin website describes the token as a fungible cryptocurrency created and controlled on the Solana blockchain.

MELANIA sign collected an incredible 24,000% TRUMP coin, the most-traded digital asset on Binance over the weekend, drained liquidity from it, hitting a record high of $13.

According to some observersThe furious trading of TRUMP and MELANIA coins represents the FOMO phase of the bull market and could lead to notable BTC price action.

Meanwhile, others like Arch CIO Jeff Dorman see TRUMP’s debut as a green light for all possibilities.

“For starters, there have been 3+ years of ‘regulatory concerns’ holding back potential token issuers and potential investors in the US. Now this will be completely eliminated when the president is an issuer and investor himself,” – Dorman Reported on X.

“TRUMP signaled to every company, municipality, university and personal brand that crypto can now be used as a mechanism to generate capital and leverage customers.” Dorman added.

Meanwhile, expectations are growing that Trump will sign an executive order on day one to create a strategic bitcoin reserve.