Following Donald Trump's inaugural speech, prices of TRUMP and MELANIA meme coins crashed by 60% in one day.
Melania Token Price Plunge
Before the inauguration, Melania's MELANIA token reached a market value of $2 billion but fell to $750 million after Trump's speech, reflecting a drop of almost 54%. The drop was due to the omission of cryptocurrencies and blockchain from Trump's speech, alongside traders cashing in profits after the initial surge.
TRUMP Token Even Crashed
The TRUMP token also fell, with its market cap dropping from $13.72 billion to $8.27 billion, a 28% decline. High trading activity was observed with $26.7 billion exchanged in 24 hours before the fall, leading to $70 million in liquidation losses.
Future Prospects for Meme Coins
Despite the decline, some experts remain hopeful. They believe that future policies by Trump might support cryptocurrencies and aid the market's recovery.
TRUMP and MELANIA meme coins face significant challenges post-Trump's inaugural speech, but potential policy changes could alter the current scenario.
