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Melania Trump has launched the $MELANIA meme coin, causing the president's cryptocurrency to plummet by 40%.

Melania Trump's meme coin, $MELANIA, has surged to $5.
Мелания Трамп представила мемкоин $MELANIA, что привело к падению криптовалюты президента на 40%.

Melania Trump has launched the meme coin $MELANIA, causing Donald Trump's cryptocurrency to plummet by 40%

The wife of the elected US President Donald Trump, Melania Trump, has introduced her own cryptocurrency — the meme coin $MELANIA. This move led to a sharp decline in the value of her husband's cryptocurrency by 40%, reports Hindustan Times.

Melania Trump and the launch of $MELANIA

On January 19 at 23:42, Melania announced the launch of her meme coin on social media X (formerly Twitter). The token's price skyrocketed to $5, and its market capitalization exceeded $5 billion.

The day before, on January 18, Donald Trump introduced his cryptocurrency — $TRUMP. Its value quickly surged, and the market capitalization reached $14 billion, allowing the coin to enter the top 20 largest cryptocurrencies. However, the effect was short-lived. Following the debut of $MELANIA, Trump's coin lost nearly 40% of its value within minutes.

Sharp decline of $TRUMP

Many investors and traders who had previously invested in Donald Trump's token began selling it in favor of Melania's new coin. According to analysts, within 10 minutes after the release of $MELANIA, the value of $TRUMP dropped by $7.5 billion.

According to CoinMarketCap, as of 09:35, the price of $MELANIA is approximately $12.27, while $TRUMP is trading at around $60.32.

What is a meme coin?

A meme coin is a type of cryptocurrency based on popular memes or internet culture. Unlike traditional cryptocurrencies such as Bitcoin or Ethereum, meme coins often lack technological innovations or fundamental value. Their popularity and price depend on hype, celebrity endorsements, and community activity on social media.

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