A Donald Trump-themed memecoin issued on the Solana network attracted $3 billion in its first few hours, causing a significant shift in the crypto market. XRP and Ethereum experienced profit-taking, with XRP slumping 5% after a 40% gain over the past week. The memecoin’s price surged from a few cents to $14 in less than six hours. This event led to a 9% increase in Solana’s value. The choice to issue the token on Solana was perceived as bearish for Ethereum. Meanwhile, Bitcoin and other major cryptocurrencies like Dogecoin and BNB remained relatively stable. The incoming President’s endorsement of memecoins has sparked speculation about a potential U.S. strategic reserve for digital coins, boosting interest in tokens like XRP, which is closely tied to Ripple Labs.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional
Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
