Trump Price Tanks Amid $Melania Launch
Trump, which debuted just days before Melania’s token, initially saw massive demand, pushing its price above $70 and its market capitalization to over $14 billion. However, following Melania’s announcement on social media, Trump’s price plunged more than 50%, falling to $30 before recovering to $64.
Melania Trump launches $MELANIA meme coin. Source: Melania TrumpMelania’s cryptocurrency, $Melania, also generated substantial interest, with its market capitalization reaching $13 billion shortly after launch. According to analysts, the launch of $Melania siphoned liquidity from Trump as traders shifted their focus to the new token.
Melania’s $MELANIA launch follows TRUMP chaos. Source: The Kobeissi Letter“This is beyond insane,” tweeted analysts at The Kobeissi Letter. “Donald Trump’s Trump just erased $7.5 billion in market cap in 10 minutes following Melania’s token launch.”
Both tokens trade on the Solana blockchain and feature disclaimers stating they are not intended as investment opportunities. Despite these disclaimers, speculative trading has driven significant price swings, underscoring the volatility of meme coins.
Trump’s Crypto Moves Raise Red Flags
The Trump family’s meme coin launches have drawn sharp criticism for potential conflicts of interest. Trump-affiliated entities control 80% of Trump’s supply, with a three-year lock-up period, raising concerns over centralized control and ethical implications.
Scaramucci slams Trump meme coin as corrupt. Source: XStephen Findeisen, known as Coffeezilla, called the launch “historic in its stupidity.” Anthony Scaramucci, a former Trump ally, warned his followers not to “delude” themselves about the coin’s potential.
Criticism mounts as Trump pushes meme coins. Source: Ben MeiselasBen Meiselas of Meidas Touch criticized Trump for prioritizing meme coins over pressing issues.
Trump’s sudden embrace of crypto-friendly policies, after previously dismissing Bitcoin as a “scam,” has sparked fears of regulatory favoritism, further fueling skepticism around Trump.
Meme Coin Frenzy Fuels Market Chaos
The launches coincided with Bitcoin hitting a record high of $108,943, sparking broader market volatility. Analysts suggest the hype around Trump and $Melania reflects a speculative bubble that could destabilize the market.
Jeff Dorman sees TRUMP frenzy as bullish. Source: Jeff DormanJeff Dorman of Arca called Trump’s token a green light for crypto adoption, saying, “TRUMP token signals that crypto can be used as a capital formation tool.” However, critics warn that meme coins often implode, leaving investors with massive losses.
Conclusion
The launches of Trump and $Melania have ignited a debate about the intersection of politics and cryptocurrency. While their popularity showcases the speculative allure of meme coins, the volatility and ethical concerns underscore the risks involved.
The post Donald Trump Meme Coin Tanks $7.5B After Melania Launches Token appeared first on Coinchapter.
