Trump Coin Falls 40% As Rival Melania Coin Launched: How To Buy These Crypto Meme Coins in India?

Know about the latest $TRUMP and $MELANIA meme coins and how to buy these trending Solana blockchain assets, their impact on the crypto market, and Bitcoin's price trends today.

As Donald Trump prepares to assume the role of 47th President of the United States on Monday, cryptocurrency prices have experienced a surge in recent days, with meme coins garnering particular attention. Among the latest additions to the crypto league are $TRUMP and $MELANIA (named after Donald Trump and his wife, respectively), which were launched last week.

Shortly after the launch on Friday, January 17, the price of the "official" Trump memecoin #TRUMP soared, propelling it into the top-20 cryptos by market capitalization with a total valuation of $14 billion.

However, as soon as his wife's rival cryptocurrency $MELANIA was launched on January 20, $TRUMP plummeted by nearly 40 percent, dropping from $74.06 to $44.82 in less than 24 hours.

These meme coins are fungible cryptocurrency assets, similar to other digital currencies, that facilitate transactions and enable speculative trading. Specifically, the Trump and Melania meme coins have been launched on the Solana blockchain network.

According to experts, these assets may divert liquidity in the market.

“The rise of speculative assets such as the TRUMP and MELANIA memecoins diverts liquidity and increases market volatility," said Avinash Shekhar, co-founder and CEO of Pi42.

The meme coins can be purchased from crypto exchanges. #TRUMP coin is available on exchanges like Binance, while #MELANIA can be bought on the Jupiter.

Melania Trump also shared a link to the meme coin $MELANIA's official website in her post on X.

Here's a step-by-step guide to buying #TRUMP:

Step 1: Visit Binance.

Step 2: Search ‘Trump/USDT’

Step 3: Buy it using USDT.

It's important to note that you need to buy USDT before buying #TRUMP on the Binance exchange. USDT is a cryptocurrency that's pegged to the value of the US dollar.

For buying #MELANIA, you can use a Solana Wallet to purchase the meme coin:

Step 1: Set Up a Solana Wallet

If you don’t already have a wallet, create one that supports Solana, such as the Phantom wallet.

Step 2: Visit the Official Website

Head to melaniameme.com to get started.

Step 3: Connect Your Wallet

Once on the website, click the “Connect Wallet" button to link your Solana wallet.

Step 4: Make a Purchase

The $Melania collectible can be purchased using either a credit card or cryptocurrency. Enter your credit card details, and the collectible will be delivered to your Solana wallet within a few minutes to a few hours.

Bitcoin, the world’s largest cryptocurrency, was trading above $101,889.

Pi42’s Avinash Shekhar said, “Bitcoin's path through volatile territory is a testament to the crypto market's dynamic nature. Currently trading just above $101,889 after dipping below the psychological $100,000 mark, BTC faces a critical test at $105,000. A decisive breakthrough at this level may pave the way for new highs, potentially reaching $110,000, while failure may trigger retracement, testing support at $98,000 and $95,000. Increased trading volumes and a favorable macroeconomic environment can fuel optimism for both institutional and retail investors."

The $105,000 threshold remains pivotal for Bitcoin’s future trajectory. Meanwhile, XRP continues to trend upward at $3.13, supported by strong levels and an RSI of 68, indicating more room for upward movement to $3.5, he added.