Trump and Melania Memecoins Spark Crypto Market Chaos
Donald Trump and Melania Trump have launched their respective memecoins, $TRUMP and $MELANIA, creating turmoil in the crypto market. While $TRUMP saw a meteoric rise, Melania coin’s launch caused a 40% crash in its value. This highlights the unpredictable yet explosive nature of memecoins.
The cryptocurrency market witnessed a weekend of extreme volatility with the launch of Donald Trump official memecoin, $TRUMP, and the subsequent debut of Melania Trump rival cryptocurrency, $MELANIA. The back-to-back launches have sent shockwaves across trading platforms, sparking speculation and wild price swings.
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The Rise and Fall of $TRUMP
On Friday evening, $TRUMP was unveiled, skyrocketing to a market cap of $14 billion and breaking into the top 20 cryptocurrencies. However, the meteoric rise was short-lived. As news emerged of Melania Trump’s rival cryptocurrency launch, the price of $TRUMP plunged by 40%, erasing $7.5 billion in market capitalization within minutes.
Crypto analysts believe the sell-off was driven by traders reallocating funds to buy $MELANIA. “This is beyond insane,” noted analysts at The Kobeissi Letter.
The Launch of $MELANIA
On Sunday, Melania Trump took to social media platform X to announce the launch of her own cryptocurrency. Titled “The Official Melania Meme,” the new token is hosted on the Solana blockchain and quickly gained traction. Within hours, the price surged past $5, pushing its fully diluted market cap to over $5 billion.
“Looks like crypto is becoming a family business,” remarked X influencer Mario Nawfal.
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A Strategic Shift in U.S. Crypto Policy
The memecoin drama unfolded against the backdrop of a major policy shift. Trump’s incoming administration has appointed David Sacks as the crypto and artificial intelligence czar. Speaking at the “Crypto Ball” event, Sacks declared a new era of crypto innovation in the U.S.
“The reign of terror against crypto is over,” Sacks proclaimed. This marks a stark contrast to the Biden administration’s stringent regulatory approach.
Market Reactions
Bitcoin and other cryptocurrencies, including Dogecoin, also showed bullish momentum in anticipation of Trump’s pro-crypto policies. Bitcoin reached $107,000, while Dogecoin gained significant traction following support from Elon Musk.
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Meanwhile, both $TRUMP and $MELANIA disclaimers have clarified that the tokens are not intended as investment opportunities or securities, aiming instead to capitalize on community engagement and interest.
Conclusion
The simultaneous launches of $TRUMP and $MELANIA underscore the influence of high-profile figures in the volatile world of memecoins. While these tokens represent new opportunities, they also highlight the speculative and unpredictable nature of the crypto market.
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