Trump vs Melania: TRUMP coin plummets over 50% after MELANIA meme coin launch

TRUMP, the official meme coin of President-elect Donald Trump, saw its value drop by over 50% after Melania Trump introduced her own meme coin, MELANIA.

TRUMP reached an all-time high of $75.35 within the past 24 hours but was trading at $53.40 at 10:55 am, with a day's low of $35, reflecting a 53% decline. This sell-off erased nearly $5 billion from its market value, which peaked at approximately $15 billion earlier in the day.

The sharp decline pushed TRUMP out of the top two meme coins by market capitalization, as Shiba Inu (SHIB) reclaimed the second spot. Earlier in the day, TRUMP had surpassed both SHIB and PEPE to rank among the top meme coins.


Meanwhile, Melania Trump launched her own meme coin MELANIA on Monday. The Solana-based meme coin rapidly achieved a valuation of $12 billion within three hours of its launch.

Also Read: Melania Trump launches her own meme coin following Donald Trump's crypto move

Like her husband's coin, Melania's memecoin is built on the Solana blockchain. These types of cryptocurrencies gain their value from community interest and engagement, a trend that has been growing in the crypto space.

The project's official website indicates the token's allocation as 35% to the team, 20% each to the treasury and community, 15% to the public, and 10% to liquidity. However, Bubblemaps revealed that 89% of the token supply was initially held by one wallet before being split into four, a distribution inconsistent with the website's information.


At 10:58 am IST, MELANIA was trading at $10.37, marking a surge of over 42% within a few hours of its launch.

Also Read: How to buy Melania Trump's $MELANIA Meme Coin: A step-by-step guide

On Friday, Donald Trump had promoted his TRUMP meme coin with enthusiasm, posting on Truth Social, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.”


(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)