Within hours, TRUMP skyrocketed in value, climbing from pennies to over $50, with a market cap over $10 billion. The coin now ranks among the world’s top 20 digital assets, attracting both investors and critics. Trump’s business arm holds 80% of the tokens, set to release gradually during his presidency.

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

Solana’s rally was largely fuelled by two so-called memecoins launched on its blockchain by Trump and his wife Melania in the run-up to his inauguration.

While the launch of meme coins from the Trump family marks a milestone in crypto, some say it still represents a "concerning trend."

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

Although Trump has been relatively quiet on crypto on day one of his presidency, the bitcoin community is watching closely.

Donald Trump has been sworn in as the 47th president of the US, and the crypto community is buoyed. A look at what’s in store for the crypto industry in Trump’s second term.

Bitcoin extended a retreat from a record high as traders awaited pro-crypto policy directions from Donald Trump following his inauguration as the 47th US president.

"The reign of terror against crypto is over, and the beginning of innovation in America for crypto has just begun," Sacks said, speaking on Friday at the so-called crypto ball event, intended to drive support for Trump among the crypto community and demonstrate its value to the incoming administration.

Meme coins are highly volatile cryptocurrency inspired by popular internet or cultural trends. They carry no intrinsic value but can soar, or plummet, in price.