US President Donald Trump and His Wife Melania Trump's Tokens Dropped Sharply! Here's Why

The much-talked-about launch of the official memecoins of US President Donald Trump and First Lady Melania Trump has left investors facing sharp losses. TRUMP, MELANIA Tokens Drop 50% After Post-Open Profit Taking Over the past 24 hours, TRUMP and MELANIA tokens have plunged by up to 60% following intense profit taking, despite a record-breaking trading frenzy. While TRUMP saw over $19 billion in trading volume in a single day, MELANIA saw $4.5 billion change hands. For context, these figures surpass the trading volumes of major tokens like Tron (TRX) and Cardano (ADA), which traded for under $4 billion during the same period. Despite the high activity, futures markets tracking the tokens also suffered significant losses, with around $70 million in liquidations for traders betting on higher prices. Crypto markets were predicting that President Trump would touch on cryptocurrency policies during his inaugural speech and potentially announce plans for a strategic Bitcoin reserve. However, the absence of any crypto-related announcements caused Bitcoin (BTC) to drop from $109,000 on Monday to $100,000 during Asian trading hours on Tuesday morning. Trading activity has since slowed. Data from Moonshot, one of the first platforms to list TRUMP for retail investors, shows trading volumes have fallen from an average of over $6 million on Jan. 18-19 to just $1 million in the past 24 hours. Despite the setback, some analysts remain optimistic about the long-term prospects of Trump memecoins and their impact on the broader crypto ecosystem. Singapore-based QCP Capital noted that the launch of TRUMP on Solana (SOL) could serve as a significant validation of the blockchain. *This is not investment advice. Continue Reading: US President Donald Trump and His Wife Melania Trump's Tokens Dropped Sharply! Here's Why