Melania Trump Enters the Meme Coin Scene: A Dive into the Crash of Trump's Crypto

Melania Trump Enters the Meme Coin Scene: A Dive into the Crash of Trump’s Crypto

In a surprising turn of events, the cryptocurrency market has experienced significant fluctuations following the launch of Donald Trump’s memecoin, $TRUMP. The price of this token skyrocketed to over $70 (£57), pushing its total market valuation beyond $14 billion shortly after its debut.

Market Dynamics Following $TRUMP Launch

However, the excitement was short-lived. Shortly after the introduction of $Melania, another memecoin associated with Melania Trump, the value of $TRUMP plummeted by more than 50%. Here’s a brief overview of the price changes:

  • $TRUMP price peak: $75
  • $TRUMP price drop: $30
  • $TRUMP recovery: Approximately $64
  • $Melania market capitalisation peak: $13 billion

Social Media Reaction

Social media has been abuzz with reactions to this drastic change. Notably, a tweet from The Kobeissi Letter highlighted the shocking 40% crash of $TRUMP following the release of $Melania’s token.

BREAKING: Donald Trump’s memecoin, $TRUMP, crashes over -40% as Melania Trump launches her own memecoin. This is beyond insane.

— The Kobeissi Letter (@KobeissiLetter) January 19, 2025

Impact on the Cryptocurrency Landscape

Both $TRUMP and $Melania have quickly surged into the top 20 cryptocurrencies, igniting a wave of trading activity. Many traders are liquidating their positions in other meme coins to invest in these Trump-related tokens. This surge in interest has also positively impacted Bitcoin, which has reached a new high of $108,943, coinciding with Trump’s upcoming presidential inauguration.

Upcoming Executive Order on Cryptocurrency

In a move that could further disrupt the market, Donald Trump is reportedly preparing to issue an executive order that will prioritize cryptocurrency at the national level. This directive may include:

  1. A review of existing crypto policies by all government agencies.
  2. A temporary halt on any litigation involving cryptocurrencies.
READ ALSO  OCC Affirms Legality of Cryptocurrency Operations for U.S. Banks: A New Era for Digital Finance

For more insights into the evolving cryptocurrency landscape, consider checking reputable sources like CoinDesk and CryptoSlate.

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