$TRUMP falls after Melania Trump launches meme currency

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The introduction of a “official” Donald Trump meme coin this weekend has caused significant volatility in the cryptocurrency markets.

Donald Trump, the president-elect, initiated the $TRUMP meme coin prior to his inauguration. The cryptocurrency, which had garnered attention over the weekend, has experienced a 60% decrease in value from its peak. Following Melania Trump’s tweet proclaiming the launch of a new meme coin, $MELANIA, this decline occurred.

The prospective first lady of the United States announced on X that the official Melania meme is now available, in addition to providing a link to a website that sells the cryptocurrency. “You have the option to purchase $Melania at this time.”

The price of the “official” Trump meme coin has increased significantly since its launch on Friday evening, reaching an astonishing $15 billion and entering the top 20 crypto markets by market capitalization. Trump’s wife, Melania, has launched her own rival cryptocurrency, which has caused a significant decline in the price of Trump’s coin, as disclosures indicate that Trump is preparing a series of crypto-focused executive orders.

In order to acquire these two meme currencies, users must utilize a non-custodial wallet, such as Phantom, and a Solana-based exchange, such as Jupiter.

Nevertheless, the MELANIA token utilizes a token economic model that is distinct from TRUMP. This model allocates 35% of the tokens to the team, 20% to the treasury, 20% to the community, 15% for a public offering, and 10% to liquidity.

Unlike TRUMP, which necessitates a three-year lock period for the team share, MELANIA only necessitates a 30-day lock period. The team share will be unlocked at 10% (equivalent to 3% of the total supply) after 30 days, with the remaining shares being released in a linear fashion over the second to 13th month.

It appears that crypto is becoming a family enterprise, according to X influencer Mario Nawfal. On-chain data indicates that Trump’s meme coin experienced a 40% decline in value following the release of Melania’s coin, as traders raced to acquire the new token.

Traders who were skeptical of Trump’s social media accounts were unable to participate in the triple-digit percentage gains that early investors in Trump’s coin have experienced since Friday evening.

The Trump family meme coin frenzy is a response to David Sacks, Trump’s recently appointed crypto and artificial intelligence advisor, who announced a new era of U.S. crypto innovation.

Sacks observed that the era of terror against cryptocurrency has concluded, and the genesis of innovation in the United States for cryptocurrency has only recently commenced.

Also Read: Court Imprisons Crypto Exchange Operator for Spying for North Korea with BTC

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