Meme Coins Named After Donald Trump and Melania Trump Surface Ahead of US Presidential Inauguration Ceremony

The cryptocurrency market witnessed a stir as two new meme coins, $TRUMP and $MELANIA, grabbed headlines on January 20.

Fresh off his US Presidential inauguration ceremony, a new development has seen two meme coins named after Donald Trump and his wife hit the cryptocurrency scene.

The surprising arrival of these digital assets, dubbed $TRUMP and $MELANIA, has sparked a lot of interest among traders. Here's a closer look at these meme coins and how they're faring in the market.

Meme Coins Named After Trump, Melania Hit Crypto Market Ahead Of Inauguration

These meme coins are essentially fungible digital currencies designed for speculative trading and transactions, similar to other cryptocurrencies.

Both $TRUMP and $MELANIA are built on the Solana blockchain, which boasts high speed and efficiency for transactions.

$TRUMP Coin’s Meteoric Rise, Sharp Decline

The $TRUMP coin made waves following its launch on January 17th. It quickly soared in the crypto rankings, entering the top 20 currencies by market capitalization.

At its peak, the coin boasted a valuation of $14 billion, according to CoinGecko. However, the coin's rapid ascent was followed by a sharp decline.

The introduction of the $MELANIA coin on January 20th sparked a 40% drop in $TRUMP's price, which fell to $44.82 from its peak of $74.06 in less than 24 hours.

But, according to CoinMarketCap, $TRUMP has since recovered. At the time of writing, $TRUMP's price was $59.41, showing a 24-hour gain of about 27%. Meanwhile, $MELANIA was trading at $12.22, up nearly 70% in the past 24 hours.

$TRUMP Coin’s Market Performance As Of January 21st, 2025

As for whether you should buy $TRUMP or $MELANIA, it's important to note that both are memecoins, which are known for their sudden booms followed by sharp drops.

Historically, these coins have been driven by memes and internet culture rather than fundamentals. While the news of Donald Trump's inauguration may be influencing their prices now, there's no guarantee these rallies will continue.

So, do your market research and make sure you can handle the risk of a sudden loss if you're considering trading these cryptocurrencies.