- MELANIA and TRUMP coins dominate memecoin trends, with soaring prices and trading volumes.
- The crypto community debates the impact of political memecoins on utility-driven cryptocurrency projects.
Melania Trump, wife of the U.S. President, introduced her own digital currency based on memes called “Melania Meme Coin.” In just a few hours, it soared to $13 in value and reached a market capitalization of $2 billion.
The news arrived not long after President Donald Trump presented his Trump[TRUMP] meme-based coin, igniting a flurry of excitement within the digital currency trading scene.
Donald Trump and Melania Trump’s official statement
Just as anticipated, Melania Trump unveiled her new digital currency, known as MELANIA, on various social media platforms. In a posted announcement, she shared the exciting news herself, explaining that it was now available to the public.
“The Official Melania Meme is live! You can buy $MELANIA now.”
Consequently, the introduction of the MELANIA coin mirrors the growing fascination with cryptocurrencies, as President Trump himself has recently ventured into this field with his own digital currency.
In fact, the President himself took to Truth Social, and said,
I have just released an OFFICIAL Trump meme! Let’s rejoice in our shared values – victory! Be part of my exclusive Trump community. Secure your $TRUMP immediately.
What’s more?
Furthermore, this event occurred during the period when Donald Trump was gearing up for his presidency, making him the 47th President of the United States.
Just as anticipated, the escalating fame of TRUMP and MELANIA meme tokens has stirred up considerable discussion among cryptocurrency enthusiasts. Some detractors contend that these ventures might eclipse genuine projects focused on practical applications.
Hence, remarking on the same, ETF Store President Nate Geraci put it best when he said,
Traders of meme coins understand clearly that they’re participating in a game similar to musical chairs within the realm of cryptocurrency. They don’t harbor any misconceptions about their investments being comparable to those in established corporations like Fortune 500 companies.
He continued,
They know it’s all greater fool theory. They also don’t view memecoins as legit “crypto projects””.
Price actions of the memecoins
According to the most recent report from CoinGecko, TRUMP was currently valued at $59.43 – a significant jump of 32.8% over the past day. Notably, MELANIA experienced an impressive surge of 68.4%, reaching $12.51 as we speak.
1. According to CoinGecko, both these coins were leading the popular meme coin rankings. But, AMBCrypto’s examination indicates that this surge might not last long.
2. As per CoinGecko, these two coins have been dominating the trending meme coin charts. However, AMBCrypto’s review implies that this upward trend could be temporary.
3. On CoinGecko’s meme coin rankings, these two tokens were at the top. However, AMBCrypto predicts that this rally might not sustain.
4. These coins have been on top of the meme coin charts as per CoinGecko. But, AMBCrypto forecasts that this upward trend could be brief.
There is potential for consolidation or a short-term pullback before any further gains.
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2025-01-20 13:12