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Updated 18:25 IST, January 20th 2025

Trump And Melania Meme Coins Hit $2 Billion Mcap

Meme coins associated with Donald Trump and Melania Trump have collectively reached a market capitalisation of $2 billion.

Reported by: Digital Desk
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Trump And Melania Meme Coins Hit $2 Billion Mcap
Trump And Melania Meme Coins Hit $2 Billion Mcap | Image: X

Melania Trump's meme coin, $MELANIA, has taken the cryptocurrency market by storm, reaching a staggering market capitalisation of $2 billion just hours after its launch on the Solana platform. The official Melania meme token, trading at around $12 with a 24-hour volume of $3.2 billion, has become the talk of the town. This unexpected development also reflected a broader trend in the global crypto industry where coins tied to public figures or memes attract attention and engagement.

Reports suggested that meme coins associated with both Donald Trump and Melania Trump have collectively reached a market capitalisation of $2 billion. This came after the launch of Donald Trump's official meme coin, $TRUMP, which gained nearly 300 percent on its first day. Following Donald Trump, Melania Trump also introduced her own meme coin, $MELANIA, which briefly tanked her husband's coin value by as much as 50 percent.

The $TRUMP coin's market capitalisation peaked at $6.76 billion, with a trading volume crossing $7 billion, while Melania Trump's coin, on the other hand, reached a market capitalization of $5.71 million, with a remarkable 2160.31 percent gain since its launch.

These meme coins have not only gained major traction but also impacted the broader cryptocurrency market. The launch of $TRUMP and $MELANIA coins has been followed by a surge in Solana's market capitalisation, which rose by 14.73 percent to $122.4 billion.

According to the market trends, the launch of $MELANIA has not only created a buzz in the cryptocurrency community but also impacted related tokens, such as Donald Trump's meme coin, $TRUMP. The $TRUMP coin's value dropped by 48 percent from $74 to $38 before recovering to $63, with its market cap plunging to $7.6 billion from $14 billion.

Despite the disclaimer on the coin's official website stating that "Melania memes are digital collectables intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA”, the coin's value continues to surge, driven by hype and speculative trading.

The launch of $MELANIA assumes importance as the US crypto market sees a policy reversal to legitimise the industry under Trump's presidency. The President-elect’s plans to make cryptocurrency a national priority, the cryptocurrency community is abuzz with excitement.

As the demand for the Melania coin continues, prices are likely to rise further, riding on the initial buzz. 
 

Published 18:25 IST, January 20th 2025