Melania Trump’s meme coin $MELANIA has taken the cryptocurrency market by storm, reaching a staggering $2 billion market cap just hours after its launch on the Solana platform. The official Melania token, trading at around $12 with a 24-hour volume of $3.2 billion, has become the talk of the town. This unexpected development also reflects a broader trend in the global crypto industry, where coins linked to public figures or memes are attracting attention and engagement.
Reports suggest that meme coins associated with Donald Trump and Melania Trump have collectively reached a market capitalization of $2 billion. This happened after the launch of Donald Trump’s official meme coin, $TRUMP, which gained almost 300% on its first day. After Donald Trump, Melania Trump also introduced her own coin, $MELANIA, which briefly caused the value of her husband’s coin to drop by up to 50%.
The market capitalization of the $TRUMP coin peaked at $6.76 billion, with a trading volume exceeding $7 billion, while Melania Trump’s coin, on the other hand, reached a market capitalization of 5, 71 million dollars, with a remarkable gain of 2,160.31% since its launch.
These meme coins have not only gained popularity but have also made an impact on the broader cryptocurrency market. The launch of $TRUMP and $MELANIA coins was followed by a sharp increase in Solana’s market capitalization, which increased by 14.73% to $122.4 billion.
According to market trends, the launch of $MELANIA not only created a buzz in the cryptocurrency community, but also impacted related tokens, such as Donald Trump’s meme coin, $TRUMP. The value of the $TRUMP coin fell 48%, from $74 to $38, before recovering to $63, with its market cap plunging from $14 billion to $7.6 billion.
Despite the disclaimer on the coin’s official website stating that “Melania memes are digital collectibles intended to function as an expression of support and commitment to the values embodied by the MELANIA symbol”, the coin’s value continues to rise, driven by media hype and speculative trading. .
The launch of $MELANIA assumes significance as the US crypto market experiences a policy reversal aimed at legitimizing the industry under President Trump. The president-elect’s plan to make cryptocurrency a national priority is generating excitement among the cryptocurrency community.
As demand for the Melania piece continues, prices are likely to rise further, building on the initial buzz.