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Cryptocurrency News Articles
Melania Trump Issues Meme Coin After Donald Trump, Market Cap Hits $10B in 2 Hours
Jan 20, 2025 at 08:39 am
Investors jumped into buying Melania MemeCoin in anticipation of a surge. Other coins took a sharp fall as they jumped into Melania's buying while selling assets.
Melania Trump has now issued meme coins, following her husband, Donald Trump.
It is the world's first official first lady meme coin after the world's first official presidential meme coin.
Investors jumped into buying Melania MemeCoin in anticipation of a surge.
But other coins took a sharp fall as they jumped into Melania's buying while selling assets.
Trump MEMICO also plunged more than 40% in an hour.
In this situation, Bitcoin once plunged 5% and fell below the $100,000 mark as skepticism over Trump's cryptocurrency policy spread in the virtual asset market.
According to CoinMarketCap on the 20th, Melania's official meme coin achieved a market capitalization of $10.9 billion within two hours of its release. The amount amounts to 16 trillion won in Korean won.
According to the official website, Melania MemeCoin will have all 1 billion coins in circulation within 13 months.
It is estimated that most of the supplies are currently held by Melania.
With the release of Melania MemeCoin, Bitcoin plummeted.
This is because Trump's sincerity in his virtual assets is suspected.
Bitcoin plunged more than 5% to the $99,000 mark due to growing doubts about using virtual assets only as a means of making money for the family.
As Melania MemeCoin absorbed all the liquidity in the market, the Trump coin plunged by about 40%.
Trump coins, which rose nearly $80 per unit the previous day, are currently trading around $49.
According to CoinGlass, the plunge has cleared $1.12 billion in Bitcoin futures trading in the past 24 hours.
Most of them are long position liquidation following a sharp decline.
Solana, where the Trump family's meme coin was released, also saw its price plunge by 7%.
This is because the network has crashed due to a large demand for purchasing meme coins from the Trump family.
Bithumb, a local exchange, also informed earlier in the day that it is taking time to complete withdrawals temporarily due to the increase in Solana withdrawals.
Currently, withdrawals are being processed sequentially and will be announced separately when withdrawals are normalized.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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- Dogecoin (DOGE) Cools Off After Green Week, But Analysts Expect a Surge as Donald Trump Prepares to Step In
- Jan 20, 2025 at 04:55 pm
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- The Meme Coin Revolution: BTFD Coin, Simon's Cat, and Popcat Lead the Charge
- Jan 20, 2025 at 04:55 pm
- The crypto market is buzzing, and meme coins are stealing the spotlight once again. These quirky, community-driven tokens have skyrocketed in popularity, proving that humor and financial opportunity can go hand in hand.
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- Trump's Meme Coin Soars 850%, Bringing His Holdings to an Estimated $50 Billion
- Jan 20, 2025 at 04:45 pm
- The value of Donald Trump's newly launched cryptocurrency, $TRUMP, surged by more than 850% since its kickoff, bringing the holdings of the U.S. president-elect and his associates to an estimated worth of nearly $50 billion ahead of his Jan. 20 inauguration.
