Trump memecoin drops 25% as US president doesn’t mention crypto during inauguration speech – DL News
- Trump was officially sworn in as US president on Monday.
- The 47th US president is a crypto convert.
- He launched his own memecoin on Friday.
Crypto traders watched Donald Trump’s inauguration speech with bated breath on Monday — and came away disappointed.
In a 30-minute outline of his policy priorities in his second term as president, Trump didn’t mention crypto.
Trump’s official memecoin dropped 25% over one hour to a low of $38, according to CoinGecko.
It’s now recovered to about $41 and has a total value of $8.2 billion.
The crypto markets dipped as well. Bitcoin dropped by 5% over one hour to above $101,000 and now trades around $103,000.
Trump’s crypto conversion
Trump’s inauguration speech comes shortly after the US president…
