Wed Jan 22 04:38:51 IST 2025: ## Trump and Melania Trump’s Crypto Tokens Crash More Than 50%
**NEW YORK** – The cryptocurrency market experienced a dramatic downturn Tuesday, as the newly launched meme tokens associated with Donald and Melania Trump plummeted in value. $TRUMP, the former president’s token, fell approximately 50% from its Sunday peak of $75, trading at $37.85 Tuesday morning. This significant drop reduced its market capitalization from over $15 billion to $7.56 billion. Similarly, the $MELANIA token, launched by the former First Lady, experienced an even steeper decline, losing nearly 70% of its value, falling from a high of $13.70 to $4.31. Its market cap plunged from over $2 billion to under $900 million.
The sharp decline in both tokens, which operate on the Solana blockchain, also impacted Solana’s native SOL token, which saw a more than 5% drop in the past 24 hours. The overall cryptocurrency market felt the ripple effect, with Bitcoin also experiencing a downturn, falling approximately 4% from its recent high.
The tokens were launched to much fanfare over the weekend. $TRUMP was announced on Friday, with its price tripling within hours before reaching its peak on Sunday. $MELANIA followed soon after. Both tokens’ websites include disclaimers stating they are “digital collectibles” and not investment opportunities. Despite these disclaimers, the significant price swings highlight the volatility inherent in meme coins and raise concerns about the potential damage to the cryptocurrency industry’s reputation, as warned by several crypto executives. The steep drop also prompted speculation about the future of the tokens and the broader impact on the meme coin market.
First Piper 