The recently launched meme coins $TRUMP and $MELANIA have caused a stir in the cryptocurrency market. The currency associated with former President Donald Trump saw a sharp price increase, but soon lost significant value following the emergence of the competing $MELANIA token.
Launch of Meme Coins $TRUMP and $MELANIA
The $TRUMP meme coin was presented to the public ahead of Donald Trump’s inauguration, reaching a peak value of $15 billion. However, shortly afterward, Melania Trump announced on social media the launch of a competing meme coin, $MELANIA, leading to a 40% drop in $TRUMP's value.
Impact on the Cryptocurrency Market
The emergence of the two meme coins has led to significant changes in the cryptocurrency market. Users are required to use Solana-based platforms like Jupiter and non-custodial wallets such as Phantom to acquire these tokens. The competition between $TRUMP and $MELANIA has increased trading activity and affected the pricing of other cryptocurrencies.
Public Reaction and Prospects
Leading experts and influencers on social media noted that cryptocurrency is becoming a family business for the Trumps. David Sacks, previously appointed to oversee cryptocurrency and artificial intelligence, stated that a new era of innovation in U.S. crypto has begun. Many early investors in $TRUMP managed to secure substantial profits despite the market volatility.
The launches of the $TRUMP and $MELANIA meme coins have demonstrated how quickly political and personal initiatives can influence the crypto market. This event highlights the importance of staying ahead in innovations within this rapidly evolving industry.
