On January 20, 2025, Melania Trump introduced her own cryptocurrency, $MELANIA, just before President-elect Donald Trump's inauguration. This meme-based coin quickly surged in value, reaching a trading price of $12.03 and a market capitalization of $1.9 billion.
The launch of $MELANIA had a notable impact on the cryptocurrency market, particularly affecting $TRUMP, the coin previously introduced by Donald Trump. Following the introduction of $MELANIA, $TRUMP experienced a temporary decline of up to 40% in value. Despite this setback, $TRUMP rebounded, climbing to $58.56 per coin and achieving a market capitalization of $11.7 billion.
These developments are part of a broader strategy by the Trump family to engage with the cryptocurrency sector, including the launch of various branded products. However, industry experts have raised concerns about the volatility of meme coins and the potential risks they pose to investors. Critics argue that such ventures could undermine efforts to legitimize cryptocurrencies and may lead to significant financial losses for those involved.
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