Melania Trump's $MELANIA Coin Soars as $TRUMP Coin Falls 60%

Jan 19, 2025, 10:30 PM

Melania Trump has launched her own cryptocurrency memecoin called $MELANIA, leading to a significant impact on the memecoin market. Donald Trump retweeted Melania's announcement on Truth Social and X. The launch caused the $TRUMP memecoin, previously introduced by President-elect Donald Trump, to plummet by up to 60% in value, erasing $7.5 billion in market capitalization within 10 minutes. Within hours, $MELANIA surged by over 24,000%, reaching a record high of $13 and a market capitalization of over $7 billion. The top three wallets control 80% of $MELANIA's supply. The rapid rise of $MELANIA and the concurrent decline of $TRUMP have caused volatility in the cryptocurrency market, with over $1 billion in trading volume for $MELANIA in just four hours. Both $TRUMP and $MELANIA are trading on platforms such as Solana, attracting significant attention from investors.