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

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,

Bitcoin, however, is a fundamentally different, hard asset. While the mania surrounding crypto often spills over into Bitcoin’s price movements, Bitcoin itself remains largely unaffected in the long term. It continues to progress steadily, and I believe we’ll see a full recovery soon.

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.

Key Takeaways Trump signed an executive order on digital assets, seeking recommendations on regulations and possibly setting up a digital stockpile.The SEC has already become more friendly to the crypto industry by rescinding SAB 121,

Trump fuels meme coin deluge as Coinbase CEO says there’s 1 million new cryptocurrencies created every week - Marketing is struggling to cope with influx of new cryptocurrencies