The cryptocurrency world was shaken over the weekend as the Trump family introduced a dramatic new dynamic to the market. Former President Donald Trump’s memecoin, $TRUMP, made a roaring debut, only to suffer a steep crash. Meanwhile, Melania Trump launched her own cryptocurrency, $MELANIA, igniting a frenzy and emerging as a formidable rival to her husband’s coin.
On January 20, Melania Trump, the soon-to-be First Lady, revealed her entry into the crypto arena with $MELANIA. The announcement, strategically timed just before Donald Trump’s victory rally in Washington, D.C., electrified her social media followers.
“The official Melania Meme is live! You can buy $MELANIA now,” she posted on X (formerly Twitter). The response was overwhelming. Within hours, $MELANIA surged to over $5 per token, achieving a staggering market cap of $5 billion. Crypto traders rushed in, making the token one of the most talked-about assets of the day.
Donald Trump’s $TRUMP coin had initially dominated headlines, boasting a meteoric rise to a $14 billion market cap, briefly placing it among the top 20 cryptocurrencies globally. But the launch of $MELANIA changed everything.
Melania’s unexpected entry caused a massive sell-off in $TRUMP tokens. Within minutes, $TRUMP’s value plummeted by 40%, wiping out $7.5 billion from its market cap. Traders pivoted to $MELANIA, propelling its price upward.
One crypto analyst remarked, “This is beyond insane. In less than 48 hours, $TRUMP lost billions, highlighting the volatility and unpredictability of the market.”
David Sacks, a crypto advisor to Donald Trump, interpreted the chaos as a turning point for U.S. crypto innovation. The Trumps’ foray into the space has solidified their influence, with both coins capturing widespread attention.
As of now, $TRUMP is trading at $49.01, recovering with an 85.55% jump over the previous day. Its market cap stands at $9.8 billion, making it the 22nd most valuable cryptocurrency.
Meanwhile, $MELANIA is not far behind, trading at $11.09 after a 51.29% surge since its launch. With a market cap of $1.79 billion, it has entered the ranks of the top 100 cryptocurrencies globally.
The crypto battle between the Trumps has captivated the market, proving that in the world of digital assets, anything is possible.
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X (formerly, Twitter) - Aayush Khanna
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