$4.3 billion wiped out! Melania meme coin launch leads to 40% decline in Trump meme coin
2025-01-20
Category: None

The cryptocurrency market witnessed dramatic swings this week, with the much-hyped Trump Meme Coin ($TRUMP) plunging nearly 40 percent shortly after a meteoric 600 percent surge in the first 36 hours of its launch.
The crash came hot on the heels of another cryptocurrency debut—the Melania Meme Coin ($MELANIA)—introduced by the incoming first lady, Melania Trump.
The $TRUMP token, launched on Saturday by US President-elect Donald Trump, initially captivated crypto enthusiasts, surging from an opening price of $10 to $70 by Sunday, pushing its market capitalisation to an impressive $15 billion. However, volatility hit the coin hard following the surprise launch of $MELANIA in the wee hours on Monday (IST), which drew significant attention from investors and caused the $TRUMP token to nosedive.
As of Monday morning, $TRUMP was trading at $53.12, equating to a market cap of $10.62 billion. Meanwhile, $MELANIA quickly gained traction, trading at $11.22 with a market cap of $2.15 billion just hours after its launch.Melania Trump unveiled the $MELANIA token via her social media accounts during Donald Trump’s rally in Washington. Her announcement, accompanied by a website link to purchase the coin, created a buzz in the crypto community.
The Official Melania Meme is live!You can buy $MELANIA now. https://t.co/8FXvlMBhVfFUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
Support and Criticism
The $TRUMP meme coin had initially been hailed as a symbolic move signalling the president-elect's pro-crypto stance. Trump has pledged to introduce crypto-friendly policies, contrasting sharply with what many industry insiders perceive as a regulatory crackdown under the Joe Biden administration.
However, critics have raised concerns over the ethical implications of meme coins tied to high-profile political figures. Some argue that such tokens could become tools for foreign influence or special interests seeking favours from the administration.Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.