Trump meme coin dramatically crashes as Melania’s coin hits Crypto: ‘Beyond insane’ 

Trump meme coin dramatically crashes as Melania’s coin hits Crypto: ‘Beyond insane’ ByAditi Srivastava Jan 20, 2025 08:06 AM IST Share Via Copy Link Donald Trump’s memecoin saw a rapid rise before crashing 40% after the launch of Melania Trump’s $MELANIA coin, which surged to a $5 billion market cap. The crypto world was rocked this weekend as Donald Trump’s “official” memecoin made a grand debut ahead of his inauguration, briefly soaring in value before crashing spectacularly. Melania Trump, the incoming First Lady introduced her own meme coin, $MELANIA, on January 20 (late Sunday US time). This new coin caused a temporary 50% drop in the value of her husband’s $TRUMP memecoin. (FILES) US First Lady Melania Trump smiles to US President Donald Trump atthe conclusion of the final day of the Republican National Convention (Photo by Brendan Smialowski / AFP)(AFP) Melania Trump launches her own meme coin“The official Melania Meme is live! You can buy $MELANIA now,” Melania dropped the announcement across her social media handles right before Trump’s DC victory rally. This new coin rapidly gained attention, with the price rising to over $5 and a market cap exceeding $5 billion, according to Forbes. Melania made the announcement herself on X (formerly Twitter), encouraging traders to buy her coin. Also read: Vivek Ramaswamy expected to exit DOGE, leaving Elon Musk at the helm: Here’s why Trump’s coin crashes as $MELANIA coin gains groundTrump’s coin skyrocketed upon its debut, reaching a staggering $14 billion in market value, making it one of the top 20 cryptocurrencies by market cap. However, the excitement was short-lived. Melania’s coin’s debut had an immediate impact on the value of Trump’s memecoin. Within minutes of the announcement, Trump’s coin lost nearly 40% of its value, with many traders including those who earlier invested in Trump token quickly selling off their holdings to buy into the new $MELANIA coin. Analysts observed that the price of Trump’s token had dropped by $7.5 billion in just 10 minutes following the coin launch. Also read: Nancy Pelosi’s daughter blasts ‘Lady McBiden,’ asks Jill Biden to ‘put on big girl pants’ and play with… The Kobeissi Letter analysts took to X to declare, “This is beyond insane. Less than 48 hours ago, Donald Trump launched $trump which just erased $7.5 billion in market cap in 10 minutes. In the minutes around the launch of Melania Trump’s token, we saw massive sell orders in $trump.” David Sacks, a Trump-appointed crypto advisor, recently declared that the “reign of terror” against crypto is over, signaling a new era of U.S. crypto innovation. Recommended Topics Share this article Share Via Copy Link Melania Trump Cryptocurrency Donald Trump Us News Read breaking news, latest updates from United States on topics related to politics, crime, along with national affairs. Stay