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Over the weekend, the Trump family shook the cryptocurrency industry by bringing a shocking new element to the market. $TRUMP, the memecoin of former President Donald Trump, had a great start before experiencing a sharp decline. In the meantime, Melania Trump introduced $MELANIA, her own cryptocurrency, which has generated buzz and proven to be a formidable opponent to her husband's coin.
The soon-to-be first lady Melania Trump announced her foray into the cryptocurrency market on January 20 with $MELANIA. Her social media followers were ecstatic when she made the revelation, which was well-timed to coincide with Donald Trump's victory rally in Washington, D.C.
On X (formerly Twitter), he wrote: "The official Melania meme is live! Now, you may purchase $MELANIA. The reaction was tremendous. Within a few hours, $MELANIA's market valuation reached an astounding $5 billion, with each token rising to nearly $5. The coin became one of the most talked-about assets of the day as cryptocurrency traders flocked in.
At first, Donald Trump's $TRUMP coin garnered attention due to its quick ascent to a $14 billion market valuation, which briefly put it among the top 20 cryptocurrencies in the world. However, everything changed with the introduction of $MELANIA.
Melania’s unexpected admission caused a massive sell-off in the $TRUMP token. In a matter of minutes, the value of $TRUMP dropped by 40%, wiping out $7.5 billion from its market cap. Traders turned to $MELANIA, pushing its price upwards.
"This is absolutely insane," said one cryptocurrency analyst. $TRUMP lost billions of dollars in less than 48 hours, demonstrating the market's erratic and unpredictable nature.
According to David Sacks, Donald Trump's crypto advisor, this instability marked a sea change in American crypto innovation. Trump's influence has grown since he entered the race, and both coins have received a lot of attention.
There is another new wave that is creating now. We will be having more of trump coin been created
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