The cryptocurrency world buzzed with excitement over the weekend as Donald Trump’s memecoin, $TRUMP, exploded in value, only to take a hit after his wife, Melania Trump, launched her own competing token.
The $TRUMP coin got off to a roaring start on Friday, climbing from $6 to an impressive $75 and pushing its market cap past $14 billion, according to Coinbase. Backed by Trump’s family business, the coin’s meteoric rise was met with criticism, with skeptics accusing the former president of capitalizing on his supporters for financial gain.
Melania Joins the Fray with $MELANIA
The crypto drama escalated on Sunday when Melania Trump announced $MELANIA, her own digital token. Within hours, it reached a market cap of $8.5 billion, as reported by DEX Screener. The move sent $TRUMP’s value plunging, losing half its price and roughly $7 billion from its market cap, though it later regained some ground.
This showdown between the Trumps’ memecoins highlights the rise of memecoins in the crypto space—tokens tied to viral moments or internet culture. While they often lack real-world utility or traditional business models, memecoins have become a speculative frenzy for traders.
Crypto Hopes Under the New Administration
Trump’s election win in November sparked optimism in the cryptocurrency sector, with many hoping his administration will bring a more crypto-friendly regulatory stance. The rapid rise of $TRUMP and $MELANIA seems to reflect this renewed enthusiasm.
The $TRUMP Coin: A Closer Look
Launched on Trump’s Truth Social platform, $TRUMP came with bold branding, including a picture of the former president with his fist raised and the tagline, “the only official Trump meme.” The coin debuted after a Washington gala celebrating his inauguration and the crypto industry.
Eighty percent of the $TRUMP supply is controlled by CIC Digital, an entity tied to the Trump Organization, and Fight Fight Fight LLC. According to its website, these insider-held tokens will be released gradually over the next three to 12 months and are expected to trade throughout Trump’s four-year term.
Mixed Reactions to Trump’s Crypto Move
Critics have called the timing of the $TRUMP launch into question. Venture capitalist Nick Tomaino described it as “predatory,” warning that the structure of the token could leave many supporters facing financial losses.
Still, major crypto exchanges Binance, Coinbase, and Kraken have moved to list $TRUMP, signaling that the coin’s influence is hard to ignore.
The Trump Family’s Crypto Ambitions
The Trump family’s interest in cryptocurrency is nothing new. Donald Trump and his sons have promoted World Liberty Financial, a blockchain venture created by his long-time associates. Trump’s social media company also attempted to acquire the crypto trading platform Bakkt.
Melania’s Vision with $MELANIA
Melania Trump’s $MELANIA coin was introduced as a “digital collectible” symbolizing her values. Her team emphasized that the token is not an “investment opportunity, investment contract, or security.” Instead, it’s intended to foster engagement and support around her ideals.
Industry Buzz and Predictions
Eric Trump hailed $TRUMP as “the hottest digital meme on Earth” and promised more to come from World Liberty Financial. But not everyone is impressed. Anthony Scaramucci, Trump’s former communications director, criticized the launch, saying it’s “bad for the crypto industry.”
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Meanwhile, crypto entrepreneur Jonathan Bixby sees the situation as just the beginning. He called $TRUMP’s debut “the opening gun in what’s known as ‘The Banana Zone’”—a period marked by wild price swings and speculative hype. “This will bring more celebrities into the crypto space. Things are going to get crazy in the coming months,” he added.
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