Melania Trump’s newly introduced meme coin, Melania Meme (MELANIA), has caused a significant market disruption, leading to a 55% crash in the value of the TRUMP token, launched by her husband, Donald Trump. The sudden market decline occurred within just 10 minutes of Melania’s announcement on January 20, pushing the TRUMP token into a bear market phase.
Melania Trump, the former First Lady, took to X to unveil her meme coin, MELANIA. Shortly after, Donald Trump shared the news at his Victory Rally, triggering an unexpected downturn in demand for the TRUMP token, which had only been launched 48 hours earlier.
The TRUMP token, which had previously surged to a $14 billion market cap, saw its value plummet by 55%, dropping to a market cap of $9.42 billion, with the token trading at $47.19 at the time of this writing.
Before MELANIA’s launch, the TRUMP token had been performing well, with buying activity surpassing selling orders. The token had even been listed on HashKey Global on January 19. However, the launch of MELANIA led to a sharp reversal, with sell orders totaling $351.7 million compared to $244.5 million in buys within the first hour of the announcement. This overwhelming selling pressure contributed to the token’s rapid decline.
The bearish sentiment surrounding TRUMP extended to Solana (SOL), as the sell-off in TRUMP caused its value to drop nearly 20% within minutes.
Despite the volatility, the TRUMP token still maintains a strong holder base of approximately 824,000 and is valued at around $39 billion. With a vesting schedule in place over three years, there remains potential for the token to stabilize in the future, though its current market trajectory remains uncertain.
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