Synopsis
Melania Coin experienced a sharp 60% decline just a day after its launch, trading at $4.17. The coin initially gained traction with a market cap of $2 billion but faced significant volatility. Meanwhile, the $TRUMP coin’s value plummeted by over 50% after the introduction of the $MELANIA coin.
Melania Coin saw a sharp over 60% decline just one day after its launch, trading at $4.17 as of 12:06 pm IST on Tuesday.
The $MELANIA coin, launched on January 20, 2025, a day before Melania Trump’s husband’s inauguration, quickly gained traction, reaching a market cap of $2 billion within hours. However, the coin faced significant volatility, with its price dropping over 74% from a high of $13.73 to $3.46. By 12:06 pm IST, it was trading at $4.17, a 64.2% drop in the past 24 hours.
Launched the previous Friday, the $TRUMP coin surged to a market cap exceeding $14 billion, with its price peaking at $75.35. However, the introduction of the $MELANIA coin led to a major decline in the value of $TRUMP. The price dropped by over 50%, falling to around $36.67, wiping out approximately $7.5 billion from its market cap.
Crypto Tracker
TOP COIN SETSCrypto Blue Chip – 56.35% BuySmart Contract Tracker3.58% BuyWeb3 Tracker-6.07% BuyAI Tracker-6.70% BuyNFT & Metaverse Tracker-10.16% BuyTOP COINS (₹) Tether86 (-0.06%)BuyBitcoin8,797,593 (-0.99%)BuyXRP264 (-1.49%)BuyEthereum279,846 (-2.23%)BuySolana20,338 (-4.41%)BuyMeanwhile, Bitcoin, the world’s largest cryptocurrency, reached a record high of $109,071 on inauguration day when Trump was sworn in as the 47th U.S. President. However, it later pared its gains and was last trading at $102,827.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
View Details »Both the Trump and Melania coins were created on the Solana blockchain. According to its website, 80% of Trump Coin’s tokens are owned by CIC Digital, an affiliate of Trump’s business, and another entity called Fight, Fight, Fight.
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These meme coins were launched as a symbolic expression of support for Donald Trump’s administration and the values linked to Melania Trump.
Despite offering initial gains, the $MELANIA coin has since erased its early profits, now trading near its opening price. Given the extreme volatility of the crypto market, investors are advised to exercise caution and seek sound financial advice before making any investments.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
