In a stunning turn of events in the cryptocurrency market, Donald Trump’s recently launched memecoin, $TRUMP, experienced a dramatic crash following the announcement of his wife Melania Trump’s own cryptocurrency, $MELANIA. The launch of $MELANIA on January 19, 2025, coincided with Trump's inauguration as the 47th President of the United States and has already caused significant ripples in the crypto world.
Initially, $TRUMP saw a meteoric rise in its market valuation, reaching approximately $14 billion shortly after its launch. However, within minutes of Melania's announcement about $MELANIA, the value of $TRUMP plummeted by nearly 40%, resulting in a staggering loss of approximately $7.5 billion in market capitalization. Analysts noted that this rapid sell-off was driven by traders shifting their investments from $TRUMP to the new coin, reflecting the volatile nature of meme-based cryptocurrencies.
Melania Trump unveiled her cryptocurrency through a post on social media platform X (formerly Twitter), declaring, "The Official Melania Meme is live! You can buy $MELANIA now." The coin quickly gained traction, achieving a market cap of over $5 billion within hours of its launch. Built on the Solana blockchain, $MELANIA is marketed as a digital asset not intended for investment purposes but rather as a symbol of support for its namesake.
The introduction of $MELANIA not only highlights the unpredictable dynamics within the cryptocurrency space but also underscores the growing intersection of politics and digital assets. While both coins share similar disclaimers regarding their non-investment nature, their rapid fluctuations have drawn attention from both crypto enthusiasts and critics alike.