The incoming first couple have launched a pair of meme coins in the leadup to president-elect Donald Trump’s inauguration that are already worth billions of dollars on paper. But the timing of the Trump cryptocurrency launch,

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

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.

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"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.

Trump- and Melania-themed digital tokens minted billions on paper for the first family while raising conflict-of-interest and foreign influence concerns.

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

This article was originally published on WealthyVC.com. On a historic inauguration day, the cryptocurrency market experienced an electrifying surge, led by a record-breaking performance by Bitcoin (BTCUSD) and Donald Trump’s new memecoin,

Bitcoin hit a record $109,241 as the US readies for pro-crypto President-elect Donald Trump’s inauguration. The cryptocurrency surged 5.5% amid excitement over Trump’s meme coins, despite a subsequent market decline.

But as his presidency approached, he also offered more specific support to the cryptocurrency market. After the launch of his own $TRUMP coin, his wife launched her own $MELANIA competitor – the combination of which led to volatility in the cryptocurrency market.

Cryptocurrencies affiliated with President Donald Trump and first lady Melania Trump plummeted in the initial hours after Trump was sworn into office Monday.