$MELANIA tanks $TRUMP coin by 50% temporarily.
Melania Trump, wife of US President-elect Donald Trump, has launched her own cryptocurrency token, $MELANIA. The announcement caused an immediate stir in the crypto market, briefly tanking the price of Donald Trump’s $TRUMP coin by 50%. Despite the initial volatility, both tokens are now recovering and attracting significant investment interest.
Melania’s Move and $MELANIA’s Meteoric Rise
Melania Trump unveiled $MELANIA on January 20, just before a rally celebrating Donald Trump’s upcoming inauguration. She announced on social media, “The official Melania Meme is live! You can buy $MELANIA now.”
Following its launch, $MELANIA skyrocketed by over 3,000%, trading at $0.1702 with a market cap of $7.31 million by early morning IST. The coin has drawn significant attention from crypto enthusiasts and Trump supporters alike.
Impact on $TRUMP Coin
The launch of $MELANIA momentarily diverted investments from $TRUMP, causing its price to plummet by 50%, reaching $41. However, it quickly rebounded, trading at $47 with a market cap of $9.82 billion—a notable 83% recovery.
Donald Trump addressed the crypto frenzy during his rally, calling the coins “all investments” and emphasizing Bitcoin’s record-breaking performance.
Crypto Enthusiasm Amid Ethical Concerns
The couple’s foray into cryptocurrency has sparked mixed reactions. While supporters praise their business acumen, critics have raised concerns about potential conflicts of interest as Trump prepares to introduce pro-crypto policies in his administration.
Before $MELANIA’s launch, $TRUMP coins were valued at $13 billion in trading, ranking among the top 20 global cryptocurrencies. Trump affiliates reportedly hold 800 million tokens, with potential future unlocks that could significantly increase their value.
Melania Trump’s entry into the cryptocurrency space has disrupted markets, temporarily shaking her husband’s token before both coins stabilized. With growing investor interest and the promise of crypto-friendly regulations, the Trumps’ cryptocurrency ventures continue to make headlines, highlighting both opportunities and controversies in this emerging market.