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.