Trump and Melania meme coins surge following President's address to Congress

TRUMP rose over 6%, becoming the most successful billion-dollar-plus capitalization meme coin in the last 24 hours.

Dogecoin (CRYPTO: DOGE) and Official Trump (CRYPTO: TRUMP) meme coins rose on Tuesday following President Donald Trump's address to the joint session of Congress.

What Happened: TRUMP rose over 6%, becoming the most successful billion-dollar-plus capitalization meme coin in the last 24 hours.

Interestingly, First Lady Melania Trump's (CRYPTO: MELANIA) Official Melania coin also spiked 5%. Notably, Trump praised Melania for her dedication to foster care efforts during the address.

Dogecoin lifted 3.50% as Trump highlighted efforts of the Department of Government Efficiency, led by tech titan Elon Musk, to curb wasteful spending. Trump introduced the department by saying "DOGE," the acronym symbolizing the popular dog-themed cryptocurrency.

The late-evening spike erased losses from the previous day, fueled by Trump's tariff imposition on Canada, Mexico, and China.

On a broader timeframe, however, things looked grim. In the last month, TRUMP, MELANIA, and DOGE were down 26%, 44%, and 14.24%, respectively.

Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading.

The president's wide-ranging address covered several key economic issues, ranging from electric vehicles to energy production and government efficiency.

However, Trump reinforced his hardline stance on tariffs, promising reciprocal measures against countries that have imposed high levies on U.S. products.

Photo by Avi Rozen on Shutterstock