TRUMP Coin Drops $6 Billion in Value After Launch of MELANIA Coin

The cryptocurrency world saw big changes as the meme coin linked to President-elect Donald Trump, known as TRUMP, dropped over 40% in value. This happened right after Melania Trump announced her own meme coin, called MELANIA.

The introduction of her coin caused the value of TRUMP to fall from about $72 to less than $39 very quickly.

This drop led to a $6 billion loss in TRUMP’s market value, knocking it out of the top two meme coins by market size. This happened even though TRUMP had just surpassed other popular meme coins like SHIB and PEPE earlier that day.

Melania’s entry into the cryptocurrency market with her MELANIA token on the Solana blockchain shook things up. Within just three hours of launching, MELANIA reached a market value of $12 billion.

This was helped by significant attention on social media, including a retweet by Donald Trump, giving it a strong start.

Melania’s new coin and its impact raise questions about the strategy behind the Trump family’s involvement in cryptocurrencies. Experts from the crypto industry have expressed concerns about these separate projects and their effect on the market.

David Sacks, the newly appointed head of crypto and artificial intelligence for President-elect Trump, has declared a new era for U.S. cryptocurrency innovation. He announced this at a “crypto ball” event, emphasizing a positive shift for crypto under Trump’s administration.

This twist in the cryptocurrency market highlights how closely tied it is to high-profile figures and suggests a potentially significant influence on both financial markets and political narratives.