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Melania Trump, wife of America’s newly elected President Donald Trump and soon to be First Lady, has recently launched her own meme coin $MELANIA. The launch of this new cryptocurrency has caused a huge drop in the price of Trump’s own meme coin $TRUMP.
$MELANIA’S STRONG IMPACT
Melania Trump launches $MELANIA on January 19, 2025. As soon as this coin was launched, it registered a rise of 24,000 percent and reached 13 dollars. With this, its market cap exceeded $13 billion. Melania announced the launch of this new coin on her social media handle and asked traders to buy it.
$TRUMP price decline
Donald Trump’s meme coin $TRUMP was also much discussed at the time of its launch. Its price increased by 300 percent on the first day and its market cap reached $14 billion. But just minutes after the launch of Melania’s coin, the price of $TRUMP dropped by almost 50 percent.
Loss of 7.5 billion dollars
If reports are to be believed, the price of the $TRUMP meme coin fell by $7.5 billion in just 10 minutes. It is being told that this happened because as soon as Melania Trump launched the $MELANIA meme coin, many investors sold their holdings and started investing in the new $MELANIA coin. Due to this, there was a huge decline in Trump’s meme coin.
Be cautious when investing in cryptocurrency
The cryptocurrency market is volatile and at times when a new cryptocurrency is launched, it is natural to have an impact on the existing tokens. Experts believe that due to the increasing popularity and demand of $MELANIA, the $TRUMP meme coin may have to face even more competition in the future.
Melania’s words did wonders
Melania Trump had said about her new meme coin, “This is not just a fun initiative, but it is also a new opportunity for my supporters. I want people to be a part of this cryptocurrency and adopt it.” This thing of his inspired his supporters to buy $MELANIA meme coin and within no time the price of $MELANIA skyrocketed.
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