Trump’s Memecoin Launch and Its Impact on Crypto Markets

President Donald Trump’s controversial memecoin launch in January may have influenced the recent Bitcoin (BTC) and overall crypto market peak, according to macro strategist Jim Bianco.

Bianco, president of Bianco Research, informed his 443,700 followers on X that Bitcoin reached its all-time high of around $109,000 in January, shortly after Trump introduced his official memecoin.

Currently, BTC is down nearly 8% in the past 24 hours and over 7% for the week, trading at $87,244—the lowest level since mid-November.

> Source: Jim Bianco /X

Bianco further observes that top Ethereum (ETH) competitor Solana (SOL) also peaked in late January.

> “The Solana network is the home of the memecoin mania. SOL peaked on January 22, three days after the Trump coin peak and is now down by almost half. So goes SOL, so goes memecoins. SOL’s rally end coincided with Trump’s memecoin.”

> Source: Jim Bianco /X

At the time of writing, SOL is trading at $143.66, with a decline of nearly 7.5% this week and nearly 13% in the past week. It is also down over 51% from its all-time high of $293.31.