Trump Family’s TRUMP and MELANIA Tokens Cause Crypto Market Chaos
LTB Trump Family’s Dual Coin Launch Sparks Controversy and Market Frenzy
The Trump family’s recent foray into the world of cryptocurrency with the launch of TRUMP and MELANIA tokens on the Solana blockchain has sent shockwaves through the crypto community. These meme coins, riding the wave of political intrigue and market excitement, have not only stirred significant volatility but also ignited a firestorm of debate over ethics, regulation, and the very nature of crypto itself.
- Trump family launches TRUMP and MELANIA meme coins on Solana
- Tokens experience massive volatility and market cap peaks
- Community backlash over potential conflicts of interest and centralization
Market Impact
On January 17, Donald Trump announced the launch of TRUMP, a meme coin built on the Solana blockchain, which quickly soared to an all-time high of $75, reaching a staggering market cap of nearly $15 billion. Not to be outdone, Melania Trump followed suit on January 19 with the MELANIA token, which hit a peak of $13.73 and a market cap of over $2 billion. The rapid price surges are reminiscent of the wild west days of crypto, where a tweet or an endorsement can send a token to the moon—or crashing back to earth.
TRUMP’s price skyrocketed by 840% from a low of $6.24, while MELANIA saw a 73% gain within 24 hours of its launch. The frenzy even caught the attention of Barstool Sports founder Dave Portnoy, who reportedly made a 200% gain on his TRUMP tokens. For those new to crypto, “market cap” refers to the total value of all coins in circulation, and “volatility” means the rapid and significant price changes these tokens experienced.
