New ATH for Bitcoin and Solana, Trump coin FOMO surprises world press

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Last Updated on 20 January 2025 by CryptoTips.eu

Early this morning Bitcoin reached a new ATH of $108,000 (even 109K at some exchanges), thanks tot he positivity surrounding Donald Trump’s presidency. Solana obtained a new record this weekend as well. Other than that, we were all mostly surprised by the memecoins of the Trump family.

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FOMO

On Sunday morning European time, many crypto investors looked very surprised when they opened the CoinMarketCap page to check the rankings. In the top 50, everything seemed to be trading lower, except for two altcoins, Trump and Solana.

As Trump is traded on the Solana blockchain, the profit for the latter was actually also credited to the American President’s new memecoin. In this manner, Solana reached a new ATH yesterday.

FOMO for Trump’s latest memecoin had temporarily taken over everything it seemed. The latest hype was also discussed on larger news sites, such as the BBC, CBS and the New York Times.

Last night the Trump coin crashed some 40% in an hour, just as Melania Trump announced her own coin.

Paycheck

A moment that I haven’t seen too many times in the crypto world. At one point yesterday it seemed like everyone was selling their crypto to invest in “Trump.” The new memecoin touted by the new US president himself has been extremely volatile since its inception while the direction over the last two days has been very clear: higher.

It was reminiscent of a scene from Paycheck, a science-fiction film by John Woo from 2003 with Ben Affleck and Uma Thurman. In it, Affleck at one point reads newspaper headlines from the future that explain that one company called Allcom (which has invented a revolutionary technology) is rapidly rising on the stock market while every other stock is falling. Everyone is selling to invest in Allcom.

YouTube video

Gamestop

FOMO is clearly playing a role right now, as it always does with memecoins. So pay close attention to where this ends, of course, and be prepared to accept a loss if this bubble were to collapse again (and it seems that is a possibility).

The ‘Trump’ graph is reminiscent of that of Gamestop 2021. He certainly starts his presidency with a lot of entertainment for the cryptosphere.

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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