Bitcoin’s new record, Fartcoin’s volatility just as Trump family is being accused of ‘rug pull’

In addition to the many executive orders that Donald Trump signed on his first day, there was a flurry of interest for buying crypto in the US, as Google Trends clearly shows. This is because of the new record for Bitcoin and the expectation that his administration will be positive for the cryptosphere.

Bitcoin record

A new day, a new record for Bitcoin. As predicted on Saturday, there were only two possibilities for Bitcoin, either a sell the news dip or a new all-time high. It became the second possibility with a new ATH of $109,000.

If we see this every week from now on, it will of course be a lot of fun for crypto fans during Trump’s presidency.

Fartcoin volatility

About two weeks ago I wrote about Fartcoin, the memecoin created by an AI that was already worth about $1.5 billion and traded at $1.5 per coin two months after its creation.

Truth Terminal, the AI ​​responsible for the new phenomenon, probably knows what he is doing because Fartcoin was around $2 this weekend and ranked 60th on CoinMarketCap. In the last week alone, Fartcoin increased by more than 60%. The volatility is very high so invest at your own risk.

Rug pull

The Trump family memecoins (Trump and Melania) are leaving a bad aftertaste. Although we had a good laugh about it this weekend, there are already rumors about a so-called ‘rug pull’ by the family.

There is the $TRUMP rugpull.

-35$ / -46 % in a few hours pic.twitter.com/MGzS2hVdTi

— Josh (@heyitspixel69) January 19, 2025

Just as Melania Trump announced her own memecoin, the value of ‘Trump’ fell by about 40%. Some investors who suffered large losses immediately accused the family of an orchestrated rug pull.

Traders who wanted to sell $TRUMP during the $MELANIA announcement were not able to on the crypto platform MOONSHOT. Many people panicked, it was Robinhood all over again!

I hope @moonshot investigates this, the entire rugpull combined with being unable to sell was a nightmare.

— NoWorldSystem (@lowfreqfilms) January 20, 2025

Reports are also circulating on social media that some investors tried to sell Trump during that drop but were unable to do so on various crypto platforms.