Tue Jan 21 11:57:21 IST 2025: ## Trump Meme Coins Crash on Inauguration Day
**NEW DELHI, January 21 (IST)** – The inauguration of Donald Trump as US President saw a significant drop in value for the newly launched meme coins associated with him and his wife, Melania. $TRUMP, the meme coin representing the former president, plummeted, losing half its market capitalization from the previous day, settling near $6.86 billion by 8:15 AM IST. $Melania, Melania Trump’s rival coin, experienced an even steeper decline, falling from $2 billion to $790 million during the same period. These figures are according to Coinmarketcap data.
The dramatic drop followed a peak on the previous day after Melania Trump announced her coin’s entry into the cryptocurrency market. While the global cryptocurrency market saw a slight increase, with Bitcoin holding steady above $100,000, the Trump-related coins failed to capitalize on expectations that Trump would implement pro-crypto policies. Despite industry watchers anticipating a “crypto president,” no such announcements were made on Trump’s first day in office, leading to disappointment and the subsequent market downturn.
Approximately 80% of the $TRUMP tokens are held by Trump-affiliated companies CIC Digital and Fight, Fight, Fight. The launch of these meme coins comes just months after the Trump family announced World Liberty Finance, a decentralized finance platform.
Cryptocurrency analysts have raised concerns about the ethical and regulatory implications of the Trump-branded coins. One analyst predicted a high likelihood of a lawsuit, highlighting the potential for financial losses and legal challenges. The Trump Organization stated that Donald Trump would hand over daily management of his businesses to his children while in office, addressing potential conflicts of interest. However, the sudden drop in the meme coins’ value suggests the market remains wary.
First Piper 