Melania Coin dips over 60%, Trump Coin follows with 50% plunge

economictimes.indiatimes.com:

Melania Coin saw a sharp over 60% decline just one day after its launch, trading at $4.17 as of 12:06 pm IST on Tuesday.

The $MELANIA coin, launched on January 20, 2025, a day before Melania Trump's husband's inauguration, quickly gained traction, reaching a market cap of $2 billion within hours. However, the coin faced significant volatility, with its price dropping over 74% from a high of $13.73 to $3.46. By 12:06 pm IST, it was trading at $4.17, a 64.2% drop in the past 24 hours.

Launched the previous Friday, the $TRUMP coin surged to a market cap exceeding $14 billion, with its price peaking at $75.35. However, the introduction of the $MELANIA coin led to a major decline in the value of $TRUMP. The price dropped by over 50%, falling to around $36.67, wiping out approximately $7.5 billion from its market cap.

Meanwhile, Bitcoin, the world's largest cryptocurrency, reached a record high of $109,071 on inauguration day when Trump was sworn in as the 47th U.S. President. However, it later pared its gains and was last trading at $102,827.

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