Meme coins like TRUMP and MELANIA nosedive post-inauguration, while other sectors defy the trend with modest gains.
According to SoSoValue, most segments of the crypto market have experienced a modest pullback since Donald Trump assumed office on Jan. 20. However, the meme coin sector has seen a significant decline, dropping by approximately 15% as of this writing on Jan. 21.
Among the meme coins, Official Trump (TRUMP) has suffered a steep decline of nearly 40%, while Melania Meme (MELANIA) has fallen by over 66% in the past 24 hours.
DeFi and DeFAI leaps up
Despite broader market fluctuations, the DeFi and DeFAI sectors have remained resilient, posting notable gains.
Raydium (RAY) led the DeFi sector with a 24-hour increase of nearly 12%, reaching a price of $7.46 as of this writing. However, the overall DeFi sector has experienced a slight pullback, declining 0.5% to $121 billion.
Meanwhile, the DeFAI sector, which merges DeFi with artificial intelligence, has shown strong momentum, with its overall market cap growing by nearly 15%, surpassing $2.8 billion. aixbt by Virtuals (AIXBT) and Griffain (GRIFFAIN) remain the market leaders in this category, together accounting for nearly 37% of the market cap.
