Trump And Melania Meme Coins ($TRUMP, $MELANIA) Fall 50%

Donald and Melania Trump’s meme coins, $TRUMP and $MELANIA, have both fallen over 50% since this past weekend, resulting in massive losses. The OFFICIAL TRUMP token tanked to $37.85 on Tuesday morning, down around 50% from Sunday’s peak of around $75. The price of the first lady’s “Official Melania Meme” token fell to $4.31 on Tuesday, down nearly 70% from its peak of $13.70 on Monday.

The market caps of the two respective meme coins have also dropped significantly. The recent selloff has slashed $TRUMP to $7.56 billion, a nearly 50% cut from more than $15 billion on Sunday. The TRUMP coin remains the 25th most valuable crypto token in the market. $MELANIA, meanwhile, is down over 50% in market cap from over $2 billion to just over $900 million. As a result of the two Solana meme coins tanking in the last 72 hours, the Solana Network’s native SOL token also fell 5% Tuesday. The token has since returned to a 3% climb over 24 hours, as SOL continues its 33.42% gains over the past week.

Why Did Donald and Melania Trump Launch Meme Coins? And Why Did They Tank?

According to the official TRUMP coin website, over 200M tokens were available at launch. The site adds that the overall supply will slowly grow to a billion tokens over the next three years. Trump Organization affiliate CIC Digital LLC and Fight Fight Fight LLC hold the other 800B waiting to go into the public supply. Following the coin’s launch, the $TRUMP price exploded to an ATH of $75. The coin is even available on Robinhood’s crypto-trading platform.

Also Read: Mark Cuban Lauds Dogecoin & Shiba Inu, Eyes TRUMP-Like Meme Coin Launch

Following her husband’s meme coin launch success, Melania Trump also announced a meme coin launch on Sunday. The $MELANIA meme coin was being distributed by MKT World, a Florida company incorporated by Melania Trump in 2021. Like $TRUMP, a majority percentage of the overall $MELANIA supply will remain locked by Melania Trump’s team before being made available to public investors. The limited supply did numbers on Sunday and Monday, reaching a high of $13.70.

Some investors became immediately concerned that they were victims of a dramatic “rug pull.” A crypto rug pull happens when a coin’s creator dramatically influences a coin’s fall in price after convincing people to invest and inflate its value, with the creator cashing in on investments just before the tank job. With the Trump family’s bulk holdings of the $TRUMP and $MELANIA tokens, it is a possibility the pair did just that to crypto investors. The crypto market is extremely volatile, and investing in assets does have its risks.