The newly launched $trump and U.S. first lady Melania Trump's $melania memecoins have each plummeted as traders cash

After skyrocketing over the weekend, the the TRUMP and MELANIA meme coins came crashing a day after President Donald Trump took office.

Donald and Melania Trump launched new cryptocurrencies over the weekend. Some experts are advising investors to be cautious.

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

The soon-to-be First Lady introduced $MELANIA on Sunday, after which her husband's meme coin saw a significant price drop.

Bitcoin hit a new all-time high overnight as investors prepare for the crypto-friendly Trump administration to take office.

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

I believe the launch of TRUMP and MELANIA meme coins isn't an indictment of the crypto space but a fun way to show political support. Read my analysis.

Data shows TRUMP amassed over $19 billion in volumes over a 24-hour period, while MELANIA saw $4.5 billion exchange hands.

Most of the major cryptocurrencies are in the green Friday morning, including Bitcoin and Dogecoin, but Trump's Solana token sits in the red.

Bitcoin and other cryptocurrencies recoiled after Trump's first set of policies following inauguration did not refer to this asset class.

"I think he is excited about it. I mean, he really wants to be the first bitcoin president," Coinbase ( COIN) CEO Brian Armstrong told Yahoo Finance at the World Economic Forum in Davos, Switzerland. Armstrong met with Trump before and after the election to advocate for the crypto industry.