The price of bitcoin rallied to a record high above $109,400 on Wednesday as a Stablecoin bill advances. President Trump will host a dinner for meme coin holders.

Meme coins are stealing the show in the broader altcoin market, with tokens like Fartcoin and Bonk maintaining steady gains ahead of the weekend. Shiba Inu’s ecosystem’s Bonk hovers at $0.000023, supported by a buy signal from the Moving Average Convergence Divergence (MACD) indicator sent on Wednesday.

Bitcoin right now is behaving similarly to tech stocks and other investments (tech-dominated Nasdaq Index, which has jumped 30% since the beginning of April),

Meme coins like TRUMP, FARTCOIN, and SPX have surged in value, with the sector rising 7.3% to a total market cap of $80.2 billion. Moonpig (MOONPIG) saw the most significant increase, spiking 130% in 24 hours to a $114.41 million market cap.

Official Trump (TRUMP) meme coin saw a rejection at $16 on Thursday ahead of a crypto dinner between token holders and President Trump. The dinner comes amid backlash from lawmakers who introduced the Stop TRUMP in Crypto Act to halt the President's involvement in digital assets.

Volatility in the stock market remains fiercely high, yet this time it obviously worked in the bulls' favor Monday. All major equity indexes soared in Monday's stock market after a preliminary U.S.-China trade deal paved the way for a more upbeat outlook heading into the summer months and beyond.

Wall Street’s “smart money” — hedge funds and other professional investors — dumped equities, and strategists urged clients to flee.But the so-called dumb money, embodied by retail traders, didn’t see things that way.

Bitcoin (BTC) price stabilizes above $106,000 on Wednesday, a few inches away from its all-time high (ATH) of $109,588 set on January 20. BTC’s Open Interest (OI) has surged to a new record high of $75.14 billion, mirroring the setup of previous bullish cycles.

President Trump is hosting an exclusive dinner tonight for the largest investors in the $TRUMP meme coin, putting the murky world of cryptocurrencies on a collision course with White House ethics.

With the meme coin $TRUMP and the company World Liberty Financial, the President is using an underregulated industry to enrich himself and court foreign influence.