Meme Coin: Donald and Melania Trump's unusual cryptocurrency investment

Days before Donald Trump was sworn in as the 47th President of the United States, he made a financial move that could bring him huge profits: his own meme coin.

"My NEW official Trump meme is HERE! It's time to celebrate everything we stand for: WINNING! Join my special Trump community. GET YOUR $TRUMP NOW! Go to http://gettrumpmemes.com — Have fun!"

Photo: X - Donald Trump

This tweet, posted on January 18, has already been viewed around 100 million times and, as expected, the meme coin sales have skyrocketed. However, Trump's move has not been welcomed with open arms by crypto investors, who, among others, warn that it will harm the industry.

A few days later, Melania Trump lauched launched her meme coin with a short message: “The Official Melania Meme is live! You can buy $MELANIA now”.

Photo: X - Melania Trump

Both cryptocurrencies were created and traded on the Solana network, causing the token's value to skyrocket by 40%.

The impact of the launch of Donald Trump's meme coin was so great that this cryptocurrency reached a trade value of 72 billion dollars in just 48 hours.

However, as with the 'Hawk Tuah Girl' meme coin, the fall has also been large, with losses reaching at times 90% of the token's value.

In fact, as of January 21, $TRUMP's market cap is $8 billion, well below the $72 billion it reached hours after its launch.

Meanwhile, with the case of $MELANIA, the meme coin's market cap is around $700 million, less than half of the $1.5 billion it reached after its launch.

Where did all this money go? Well, it probably ended up in the pockets of those who bought the meme coin quickly and sold it when it was at its peak.

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