$TRUMP and $MELANIA, Sparking a New Meme Coin Craze
In an unprecedented week for meme cryptocurrencies, $TRUMP and $MELANIA, tokens associated with the U.S. President Donald Trump and First Lady Melania Trump, respectively, witnessed dramatic swings in their price performance. Launched amidst a wave of public and investor intrigue, both coins quickly soared to dizzying heights before experiencing significant declines.
Initial Surge:
The $TRUMP token debuted on the Solana blockchain (17/01/25) with an initial fanfare, rocketing from a few cents to a peak of over $75. This was driven by a combination of Trump’s social media promotion and the general excitement around meme coins, which are often propelled by internet culture and celebrity endorsements. Similarly, $MELANIA launched shortly after (19/01/25), with its price jumping to around $13 in early trading.
However, the joy was short-lived. Post-launch, $TRUMP saw its value drop by more than 64% from its all-time high, settling at around $27, while $MELANIA plummeted by 82%, trading at just over $2. This sharp descent was attributed to the inherent volatility of meme coins, which lack intrinsic value beyond their speculative nature.
The highest prices for the Trump and Melania meme coins were:
$TRUMP: It reached its peak at around $75 shortly after its launch on January 19, 2025.
$MELANIA: It hit a high of about $13.70 on January 20, 2025, shortly after its launch.
The lowest prices recorded for these coins by the time of the latest available information were:
$TRUMP: It fell to approximately $24.1 by January 31, 2025, after experiencing significant drops following its initial surge.
$MELANIA: It dropped to around $4.19 by January 21, 2025, marking a substantial decline from its peak.
Expert Analysis:
Cryptocurrency analysts have mixed reactions to these developments. Some, like Ravi Sarathy from Northeastern University, argue that meme coins like $TRUMP and $MELANIA are more about cultural expression or political support rather than traditional investment vehicles. They suggest that while these tokens might not have a fundamental business purpose, their prices could still recover if they maintain or regain public interest.
Justin D’Anethan, an independent crypto analyst, pointed out the ethical and regulatory questions these launches raise but also noted the potential for recovery. “The meme coin market is driven by hype, community, and sometimes, significant news events,” he remarked. Several posters on X have echoed similar sentiments, suggesting that these coins might bounce back due to their association with high-profile figures.
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