Meme coins like TRUMP and MELANIA nosedive after the inauguration, while other sectors defy the trend with modest gains.
According to SoSoValueMost segments of the crypto market have seen a modest decline since Donald Trump took office on January 20. However, the meme coin industry has seen a significant decline, down around 15% at the time of writing on January 21st.
Among meme coins, Official Trump (TRUMP) has suffered a steep drop of almost 40%, while Melania Meme (MELANIA) has fallen more than 66% in the past 24 hours.
DeFi and DeFAI are jumping up
Despite broader market swings, the DeFi and DeFAI sectors have remained resilient and posted notable gains.
Raydium (RAY) led the DeFi sector with a rise of almost 12% over 24 hours, reaching a price of $7.46 at the time of writing. However, the overall DeFi sector has seen a slight decline, down 0.5% to $121 billion.
Meanwhile, the DeFAI sector, which combines DeFi with artificial intelligence, has shown strong momentum, with its total market capitalization growing by almost 15% to over $2.8 billion. Virtuals’ aixbt (AIXBT) and Griffain (GRIFFAIN) remain the market leaders in this category, together accounting for almost 37% of the market capitalization.
