The “meme coins” of Trump and Melania are in free fall

The controversial cryptocurrencies $TRUMP and $MELANIA, launched by Donald and Melania Trump just hours before their official entry into the White House, quickly reached a value of several billion dollars upon their launch.

However, they experienced a drop of over 50% just days after this spectacular rise.

On January 17, three days before the start of his presidential term, Donald Trump launched his cryptocurrency, the $TRUMP, on the Solana blockchain. This memecoin quickly reached a market capitalization of over 15 billion dollars in just a few hours. However, it sparked significant controversy, with Trump’s critics highlighting the obvious risks of potential conflicts of interest.

Two days after the launch of $TRUMP, Donald Trump’s wife also introduced her own cryptocurrency, $MELANIA, which quickly reached a market capitalization of over 1.5 billion dollars within a few hours. This memecoin, launched by Melania Trump, also generated significant volatility in her husband’s memecoin market, leading to a considerable drop in the value of $TRUMP.

The launch of these cryptocurrencies by the newly inaugurated President, Donald Trump, and First Lady, Melania Trump, has triggered a heated controversy.

Many observers and critics have raised ethical and transparency concerns, particularly highlighting the risks and dilemmas associated with exploiting their political notoriety for financial purposes. This initiative also raises questions about the boundary between their public duties and private interests.

The day after Donald Trump’s inauguration, the pendulum’s return was quickly felt: the $TRUMP fell to $37.85, marking a decrease of about 50% from its peak of $75 reached two days earlier.

This assessment has reduced its valuation to 7.56 billion dollars, down from over 15 billion at its peak.

The $MELANIA experienced a similar fate, recording a significant drop of nearly 70% to settle at $4.31 the day after the inauguration.

This decline has dropped its market capitalization to less than 900 million dollars, after temporarily exceeding 2 billion just a few hours after its launch.

With these “meme coins”, Trump clearly showed that he did not intend to pause his various strategies to amass a fortune, including launching a series of products meant to be sold to his supporters.