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The meme coin sector plummeted, led by sharp declines in $TRUMP and $MELANIA after inauguration day, sparking a search for the best crypto to buy now as investors seek more promising opportunities.
The average price of meme coins plunged almost 24% in the past 24 hours, while new Trump family meme coins Official Trump ($TRUMP) and Melania Meme (MELANIA) plummeted 39% and 67%, respectively, according to CoinMarketCap.
Euphoria in the crypto industry over the start of Trump’s second term as president has given way to a downbeat mood after his inauguration day speech failed to mention crypto at all. Trump’s first day in office also passed without a single reference to the crypto industry.
Crypto assets overall plunged almost 6% to a market capitalization of $3.53 trillion, and the search is now underway to find cryptos that can perform in the early, potentially volatile, days of the new Trump administration.
RAY Tops Gainers
While TRUMP and MELANIA plunged throughout the past day of trading, Raydium (RAY) was the top performing major crypto with an 11% pump. It’s also surged 52% in the past week.
Should this positive momentum continue, RAY could beat the all-time high of $16.93 that it set 3 years ago, which would bring a 55% gain from the crypto’s current price.
While RAY tries to reach a new ATH, investors might also want to consider buying into the presale for Best Wallet (BEST).
Currently in its presale phase, the project aims to offer the ultimate custody solution for crypto investors, enabling them to manage, secure, and grow their digital asset holdings all from within one app.
Built for simplicity, powered by innovation.
Best Wallet is your all-in-one solution for managing, trading, and tracking crypto. Unlock exclusive access to powerful tools and ALPHA on the hottest new projects! 🔥
Download Now 📲 https://t.co/he5kzra7TY pic.twitter.com/tk0loLzzId
— Best Wallet (@BestWalletHQ) January 20, 2025
One standout feature is an Upcoming Tokens section that flags the hottest new crypto presales. There is also an attractive staking opportunity on offer to anyone who buys and locks BEST tokens during this early stage, with a 236% Annual Percentage Yield up for grabs.
Frog-Themed Purple Pepe Tops Meme Coin Gainers
Meme coins plunged and frog-themed tokens saw their collective market cap drop over 4% in the last 24 hours as leaders Pepe (PEPE), Brett (BRETT) and Turbo (TURBO) all suffered losses.
But PURPLE PEPE (PURPE) managed to buck this trend to emerge as the top-performer in the sector with a more than 66% price surge.
PURPE has been in a negative trend over the past couple of weeks, but the recent surge was enough to flip its weekly performance back into the green. Now, the meme coin could return to the long-term trend that has seen its price soar more than 200% over the last year.
Similar to RAY, PURPE’s current price is a fair amount away from its all-time high. Should PURPE try to reach a new peak, it could lead to a 70% gain for investors that buy into the meme coin now.
Another frog-themed token that is gearing up to enter the public market is Wall Street Pepe (PEPE). WEPE is the most successful presale of the year after raising more than $53.9 million and funds continue to flood into its coffers. There are now only 26 days left before it launches.
Crypto analyst and YouTuber ClayBro, who has over 134K subscribers, predicted that WEPE could potentially skyrocket 100X after its launch.
Trump Family Meme Coins Worsen Solana Congestion That SOLX Is Designed To Fix
The Trump family’s recent meme coin launches have sparked a surge of activity in the Solana ecosystem, drawing a flood of new investors to the fast-growing blockchain.
Despite this influx, the Solana price plunged more than 8% in the last 24 hours, as investors worry about the network congestion that’s been worsened by a trading boom triggered by TRUMP family meme coins that launched on the blockchain.
While this trading surge highlights Solana’s popularity and growth potential, and thus why it’s likely a good buy right now, it also underscores a major issue: the network’s current inability to handle such a high volume of transactions without slowing down.
The congestion has already led to outages and delays for platforms like Coinbase and Phantom Wallet, and this is only expected to worsen as more meme coins launch. This is where Solaxy (SOLX) steps in.
As a Layer-2 solution, Solaxy is designed to ease Solana’s scalability challenges by providing a side chain that operates alongside the main network. Solaxy’s technology will help offload transaction processing, ensuring that Solana can continue to scale without the bottlenecks currently threatening its growth.
As Solana continues to dominate the meme coin space, and with talks of a 2025 meme coin supercycle gaining momentum, solutions like Solaxy will be crucial for supporting the network’s long-term success.
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