Dogecoin fell 15% as Trump's Solana fell on the Meme momentum
2025-01-23 15:57
Some notable winners in Donald Trump's campaign were the surprise release of Solana meme coins late on Friday: of course, Trump himself, as well as the early investors in these soaring coins. Solana itself also soared to a new all-time high over the weekend.
However, other major meme coins generally declined, and none more so than Dogecoin, which was initially also the most valuable meme coin by market capitalization.
Since then, DOGE has fallen by more than 15% since its launch on Friday, dropping from its highest price in over a month, $0.4318, to the current $0.3652.
The index fell by nearly 7% that day, but due to the increase earlier in the past seven days, it still rose by 12% this week.
Other notable meme coins had even greater declines that day. Fartcoin dropped by 19% after hitting an all-time high on Sunday, while Dogwifhat (WIF) fell by 11%, Floki by 9%, and Pepe by 7%.
According to CoinGecko data, the cryptocurrency market fell by about 3% in the past 24 hours. Bitcoin's price was roughly flat at $104,510 on the day after hitting a new all-time high of $108,786 earlier on Monday, while XRP, which is pegged to Ripple, was rising during the inauguration ceremony and is currently priced at $3.28, up more than 3% today.
Trump himself fell by 22% that day and is currently priced at around $49 since the unexpected launch of the official Melania Trump token on Sunday, which is tied to Donald's wife.
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