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Melania Trump Launches Meme Coin MELANIA, Sparking Market Turmoil

Melania Trump has shaken up the crypto market with the launch of her meme coin, MELANIA. This move comes just days after Donald Trump introduced his TRUMP token. Within hours, MELANIA’s market cap soared past $8 billion, generating both excitement and skepticism.

TRUMP Token Declines Following MELANIA’s Debut

On January 20, Melania Trump announced the launch of MELANIA on X . According to Dextool, the token was trading at $8.04, with a market capitalization exceeding $8 billion.

https://twitter.com/MELANIATRUMP/status/1881087523847593995

Meanwhile, Donald Trump’s TRUMP token, which initially saw impressive gains, experienced a significant drop in value following the MELANIA launch. TRUMP’s market cap plummeted from $15 billion to $10 billion, with its price dropping from $74.60 to $49.29.

Analyst Speculates on the Trumps’ Strategy

Crypto analyst Zack Guzman speculated that the Trumps launched their tokens swiftly to avoid potential legal issues. He pointed out that delaying further could have exposed Donald Trump to accusations of abusing his office for personal gain, a violation that could lead to impeachment.

https://twitter.com/zGuz/status/1881121163285508504

Additionally, the official MELANIA website clarifies that the token is not an investment opportunity but rather an expression of support. Despite this, concerns about the token’s legitimacy arose, with some users speculating that Melania’s X account might have been hacked.

Community Reactions and Concerns

Coinbase’s Conor Grogan dismissed fears of MELANIA being a scam, suggesting that the project was managed by a different team than TRUMP. He noted that while TRUMP appeared to have professional market makers, MELANIA seemed less structured.

However, skepticism persisted. Guzman shared his frustration with failed transactions on the Solana network, questioning the legitimacy of the entire process.

In response, Messari founder Ryan Selkis criticized the launch, urging Trump to remove those behind the MELANIA project, arguing that they lacked competence and were damaging his reputation.

What Lies Ahead for the Trumps’ Crypto Ventures?

As the Trumps continue to navigate the meme coin market, the rapid fluctuations in value and the controversies surrounding their launches have sparked intense debate. Whether these tokens will sustain their initial success or face further scrutiny remains to be seen.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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