TRUMP Token Crashes Over 50% as Melania Trump Launches Meme Coin

News

The cryptocurrency field went through a wild ride throughout the past 24 hours, witnessing the first-ever launch of a meme coin by a president of a country. And we’re not talking about just any country; we’re talking about the United States of America.

Donald Trump pushed his TRUMP meme coin, which exploded and in less than two days became one of the largest cryptocurrencies, achieving billions of dollars worth of total market capitalization. Now, however, the token plunged massively, losing more than 50% in less than a couple of hours.

Interestingly enough, Donald Trump isn’t the only member of the family launching coins. His wife Melania Trump just announced hers.

The Official Melania Meme is live!

You can buy $MELANIA now. https://t.co/8FXvlMBhVf

FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6

MELANIA TRUMP (@MELANIATRUMP) January 19, 2025

Trump’s official X account reposted the announcement. It appears she’s following a similar playbook because over 88% of the supply is held by a single wallet, according to data from Dexscreener. At the time of this writing, the token is trading at around $4 and a $4 billion market cap.

Articles You May Like

Metaplanet Boosts Bitcoin Stack to 15,555 BTC
Restructuring at Eigen Labs Triggers Workforce Reductions
Chartist Slams Misleading Dogecoin Analysis: Focus On This Instead
US Dollar Index Declines Further, Could Bitcoin Be Gearing Up for a Breakout?
Another Public Company Treasury Pivots to Ethereum With $172M Raise