Trump’s Memecoin Crashes as His Wife Launches Her Own Coin

Over the weekend, the $TRUMP memecoin, which had captivated the crypto world with its meteoric rise, faced a sharp 40% dip in value on Sunday.

The drop followed a social media post of a new memecoin dedicated to his wife, Melania, called $MELANIA.

The post was first published on Melania’s profile and the retweeted by the President-elect himself.

The token’s value skyrocketed, reaching a fully diluted valuation of $5.69 billion, as per DEXscreener, though its price remains highly volatile.

Of the total supply, 45% was allocated to the community for public distribution and liquidity provision on decentralized exchanges. The remaining supply is split between the project treasury, which holds 20%, and the team, receiving 35%.