The crypto market is witnessing significant activity as several tokens show rally potential despite a turbulent start to 2025. Bitcoin impressively climbed to an all-time high of $109,114 on January 20. A surge in global market capitalization by 4.45% over the past 24 hours, settling at $3.75 trillion, is fueling the debut of a new coin tied to a political heavyweight.
$TRUMP Surges 698% in a Week — Trump’s Inauguration Could Push Further Rally
Donald Trump’s entry into the crypto space has reshaped investor focus. His newly launched token, Official Trump ($TRUMP), has skyrocketed in value, tripling its price to exceed $74 and amassing a market cap of over $14 billion shortly after its release. The cryptocurrency has surged 698% in the last week. Trump’s own enthusiasm was evident in his social media post:
It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.
With Trump’s inauguration as the 47th President of the United States today, expectations for the coin’s continued growth are high. However, some market participants remain cautious, noting the coin’s rapid rise has drawn liquidity away from other assets, causing declines across the board. For instance, Bitcoin and several other top coins have experienced minor sell-offs as traders shift investments into $TRUMP.
Dogecoin’s Potential Breakout Eye $15 Target
Dogecoin (DOGE) is also in the spotlight. The creation of the Department of Government Efficiency (D.O.G.E.), spearheaded by Trump, Elon Musk, and Vivek Ramaswamy, has given DOGE a boost. Musk’s longstanding enthusiasm for Dogecoin is well-documented, and this initiative adds a new layer of institutional support for the meme coin.
Currently trading at $0.3772, Dogecoin has gained slightly, 1.10%, over the past 24 hours but has risen 16.40% over the last week. Crypto analyst Ali Martinez highlights that Dogecoin trades within a multi-year ascending parallel channel. This trendline pattern suggests steady growth over time, positioning Dogecoin as a promising investment for bullish traders targeting higher price levels in the cryptocurrency market.
Source: Ali Martinez
The chart, shared by Ali Martinez, indicates a potential breakout leading to a bullish price target of $15. This projection aligns with the channel’s upper boundary, signaling significant growth opportunities. If Dogecoin maintains this trajectory, it could surpass its previous all-time high, fueling investor optimism.
Ripple’s XRP Eyes Extended Rally
Ripple’s XRP has also been making waves. The coin crossed the $3 threshold for the first time in seven years, marking a significant milestone. Despite facing resistance at $3.40, XRP managed a weekly rally of 32.40% before retreating to $3.24 as of Monday.
Technical indicators favor continued bullish momentum. The RSI currently reads 56, signaling upward strength, while the MACD shows a bullish crossover. A potential technical target of $3.60 remains achievable if XRP maintains its upward trajectory.
As we reported earlier, Ripple CEO Brad Garlinghouse’s recent dinner with Trump has fueled speculation about policy discussions impacting the cryptocurrency sector. Market participants are eager to see if XRP can leverage its momentum and policy shifts to maintain a rally in the coming weeks.
Despite market corrections and liquidity concerns, the emergence of new initiatives and technical patterns has rekindled investor interest. As $TRUMP, DOGE, and XRP take the spotlight, traders are watching closely for the next big moves in an ever-changing crypto landscape.
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