Bitcoin (BTC ($104,299.70)) started the new week strong and at a new record. This record was driven by the excitement of Donald Trump’s inauguration, but Trump’s failure to mention Bitcoin and cryptocurrencies in his speech brought a sharp decline.
As the market tries to recover in the aftermath, on-chain analytics platform Santiment has listed the most popular cryptocurrencies in the market.
According to the data, he said that memecoins attracted the most attention after Donald Trump’s inauguration ceremony, and that Dogecoin (DOGE ($0.36)), TRUMP ($39.02) and MELANIA were trending.
“Following the historic US presidential inauguration, the altcoins that attracted the most attention were memecoins.
TRUMP: Discussions on the risks involved in investing in a volatile market after listing on Coinbase.
MELANIA: Trending due to recent launch of memecoin, immediately generating significant market activity and volatility. Controversy highlights its association with Trump memecoin. Melania coin’s initial valuation exceeded $9 billion, but has experienced significant fluctuations amid broader market uncertainty.
DOGE: trended due to its association with the newly launched US Department of Government Efficiency led by Elon Musk, featuring Dogecoin as its logo. The initiative sparked controversy and created a buzz on social media as it intertwined the cryptocurrency with government operations. Additionally, discussions around the potential for new memecoins linked to public figures like Trump and Musk contributed to speculation about Dogecoin’s future performance and importance in the crypto space.
*This is not investment advice.
Continue Reading: Santiment Named Three Altcoins: According to Data, These Are the Most Talked About!
