Donald Trump's meme coin $TRUMP crashes as Melania Trump's coin $MELANIA gains momentum in the crypto market
Donald Trump¡¯s $TRUMP memecoin faced a dramatic crash after the launch of Melania Trump¡¯s $MELANIA memecoin, which gained massive traction in the cryptocurrency market. Both memecoins have become major highlights, showcasing the unpredictable nature of digital assets.
The cryptocurrency world witnessed a dramatic turn of events this weekend as Donald Trump¡¯s memecoin, $TRUMP, made an explosive debut before experiencing a sudden and significant crash. Adding to the frenzy, Melania Trump launched her own cryptocurrency, $MELANIA, which disrupted the market and became an unexpected challenger to her husband¡¯s coin.
Melania Trump Launches $MELANIA Memecoin
The Official Melania Meme is live!
¡ª MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
On January 20, Melania Trump, the soon-to-be First Lady, introduced her memecoin, $MELANIA. The announcement was made on her social media platforms, including X (formerly Twitter), just before Donald Trump¡¯s Washington DC victory rally.
She wrote, ¡°The official Melania Meme is live! You can buy $MELANIA now.¡± Within hours, $MELANIA¡¯s value soared past $5 per token, achieving a market cap of over $5 billion, according to Forbes. Crypto enthusiasts and traders quickly jumped on the opportunity, boosting the coin¡¯s popularity and price.
Trump¡¯s $TRUMP Coin Crashes Amid $MELANIA Coin Hype
Donald Trump¡¯s memecoin, $TRUMP, initially enjoyed a massive surge upon its launch, reaching an impressive market valuation of $14 billion. This milestone briefly placed it among the top 20 cryptocurrencies by market cap.
My NEW Official Trump Meme is HERE! It¡¯s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq ¡ª Have Fun! pic.twitter.com/flIKYyfBrC
¡ª Donald J. Trump (@realDonaldTrump) January 18, 2025
However, the debut of Melania¡¯s memecoin triggered a sell-off of $TRUMP tokens. Within minutes of her announcement, $TRUMP¡¯s value plummeted by 40%, losing $7.5 billion in market cap in just 10 minutes. Many traders switched their investments to $MELANIA, driving its value higher.
Analysts from The Kobeissi Letter commented, ¡°This is beyond insane. Less than 48 hours after its launch, $TRUMP erased $7.5 billion in market cap within minutes of $MELANIA¡¯s debut.¡±
Crypto Advisors Weigh In on the Market Shift
David Sacks, a crypto advisor appointed by Donald Trump, noted that the "reign of terror" against cryptocurrency may be coming to an end, suggesting this is a pivotal moment for U.S. crypto innovation.
Both $TRUMP and $MELANIA coins have captured the market¡¯s attention, solidifying the Trumps as key players in the cryptocurrency space.
Current Performance of $TRUMP and $MELANIA Coins
At the time of writing, $TRUMP was trading at $49.01, reflecting an 85.55% jump from the previous day. Its market cap was valued at $9.8 billion, making it the 22nd most valuable cryptocurrency, as reported by CoinGecko.
Meanwhile, $MELANIA has also gained significant traction. It was trading at $11.09 with a 51.29% increase since its launch, boasting a market cap of $1.79 billion. Currently, $MELANIA ranks as the 94th most valuable cryptocurrency globally.
The Impact of Memecoins on the Crypto Landscape
The sudden rise and fall of $TRUMP and the unexpected success of $MELANIA have highlighted the unpredictable nature of memecoins. These coins, often driven by public sentiment and hype, can cause massive shifts in the crypto market within hours.
As the Trump family¡¯s memecoins continue to dominate headlines, it remains to be seen how their influence will shape the future of cryptocurrency.
Key Takeaways
- $TRUMP saw a meteoric rise before losing 40% of its value due to the launch of $MELANIA.
- $MELANIA has quickly gained a strong foothold in the market, attracting traders and driving its market cap to billions.
- Both coins are now among the most talked-about cryptocurrencies, reflecting the growing trend of memecoins dominating the digital asset space.
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Bhupinder Singh serves as a Principal Executive in Content Management, specializing in SEO content related to trending financial news, net worth of celebrities, historic events, and art and culture. His passion for cricket shines through in his work and personal interests. In his free time, Bhupinder enjoys discussing cricket legends like MS Dhoni and Sachin Tendulkar, as well as following the IPL.
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