Daily Crypto Signals: Bitcoin Hits $109K While Memecoins Create Family Drama on Trump Inauguration
The cryptocurrency market experienced significant volatility on Donald Trumpβs inauguration day, with Bitcoin reaching a new all-time high of $109,114 before retreating, while drama unfolded in the memecoin space as competing Trump family tokens vied for investor attention. The newly-sworn-in presidentβs silence on crypto during his inaugural address led to a notable market correction.
Crypto Market Developments
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On January 20, 2025, the market for cryptocurrencies displayed mixed indications since Trumpβs inauguration dominated market attitude. After Trumpβs inauguration speech omitted mentioning cryptocurrencies or his campaign promise of a strategic Bitcoin reserve, Bitcoin suffered a severe downturn even if it set new highs. This absence affected the larger market as numerous altcoins tracked Bitcoinβs declining path.
Trumpβs Inauguration Impact on Crypto
Though he advocated cryptocurrencies, President Trumpβs βAmerica First Prioritiesβ conspicuously omitted any reference to them. Still, his government has already taken notable actions in the crypto realm, appointing Caroline Pham as acting CFTC chair and Mark Uyeda as acting SEC chair. Pointing to the appointment of David Sacks as the White Houseβs βA.I. & Crypto Czarβ and the choice of crypto advocate Paul Atkins to head the SEC, industry watchers remain hopeful about cryptoβs part in Trumpβs second term.
Bitcoin Crosses $109,000 and Dips
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Early in the day, Bitcoin BTC/USD showed amazing resilience and shot to a fresh all-time high of $109,036 at 6:55 am UTC. After Trumpβs inauguration address, though, the fervor faded and the price dropped to test the $100,000 mark. The performance of the cryptocurrencies shows how sensitive the market is to political events and legislative aspirations.
Shiba Inu Price Prediction: SHIB to Touch $0.003?
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Right now trading at $0.00002, Shiba Inu SHIB/USD shows sideways movement in early 2025. Changellyβs study indicates that the token might reach $0.003 by the first quarter of 2040, so offering a possible 15,000% return on investment. Under the Trump presidency, this long-term forecast is predicated on hopes of a more robust US market and higher investor confidence.
World Liberty Financial Buys Over $100 Million in Crypto
On inauguration day, WLF showed notable market activity buying about $100 million in crypto tokens in a few hours. Along with minor interests in tokens like Ethena, Chainlink, Aave, and Uniswap, the protocolβs wallet gathered $46.8 million in Ethereum and $46.7 million in wrapped Bitcoin. The overall cryptocurrency values of the site presently stand at $326.2 million.
Top Altcoins to Watch
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Leading altcoins showed mixed performance during the inauguration day trading:
- Ethereum ETH/USD: Trading near $3,242, facing resistance at the 50-day SMA
- XRP XRP/USD: Showing strength above $2.91 support level
- Solana SOL/USD: Experiencing high volatility around $238
- Chainlink LINK/USD: Maintaining positive momentum above $24
- Cardano ADA/USD: Consolidating within a symmetrical triangle pattern near $1
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