Official Trump and Melania Meme crypto tokens experienced significant price drops, reversing initial gains. Bitcoin also fell, despite overall investor enthusiasm for cryptocurrency following Trump's election victory and promises of pro-crypto policies. The SEC Chair's resignation adds to the anticipation of potential regulatory changes.
"Official Trump ," a recently launched crypto token, plunged more than 20% in value over a 24-hour stretch ending Tuesday morning, according to crypto tracking siteThe decline for Trump 's meme coin reverses some of the gains enjoyed in an initial surge after it hit crypto markets last week. The coin's price climbed from about $10 on Saturday morning to a high of about $74.59 before it began to slide.
, the world's largest cryptocurrency. In early trading on Tuesday, bitcoin fell nearly one percentage point, putting its price at $102,853. Trump also has promised to ease regulations for the sector and establish the federal government's first National Strategic Bitcoin Reserve.
CRYPTOCURRENCY BITCOIN TRUMP REGULATION INVESTOR SENTIMENT
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