Following the recent presidential inauguration, meme coins like TRUMP and MELANIA have taken a hit in the crypto market, experiencing significant declines. According to data from SoSoValue, the meme coin sector as a whole has dropped by approximately 15% since Jan. 20, with Official Trump (TRUMP) plummeting by almost 40% and Melania Meme (MELANIA) falling by over 66% in the past 24 hours.
DeFi and DeFAI Sectors Thrive
Despite the overall market pullback, the DeFi and DeFAI sectors have shown resilience and growth. Raydium (RAY) has led the DeFi sector with a 12% increase in the past 24 hours, reaching a price of $7.46. The DeFi sector, with a total market cap of $121 billion, has experienced a slight 0.5% decline overall.
On the other hand, the DeFAI sector, which combines DeFi with artificial intelligence, has seen significant momentum with a 15% increase in market cap, surpassing $2.8 billion. Leading tokens in this sector, such as aixbt by Virtuals (AIXBT) and Griffain (GRIFFAIN), hold a combined market cap of nearly 37%.