$TRUMP Coin Collapses as Melania Trump's COIN Meme Rises to $8 Billion after Launch
The cryptocurrency industry suffered a wave of declines after news of Melania Trump's launch of a meme coin hit the market. The TRUMP Coin took a nosedive immediately after the news broke.The MELANIA meme coin reportedly reached a market valuation of $8 billion, triggering both excitement and suspicion in the crypto community.Launch of $MELANIA and fall of $TRUMPMelania Trump, the next First Lady, has followed in her husband's footsteps by launching her own digital currency, a meme coin called MELANIA.According to a post on X, Melania announced that the coin is officially available. Dexscreener reported that during the press conference the coin was trading at $8, reaching a market valuation of $8 billion.$Melania MemeThe TRUMP meme coin soared 3-fold, surpassing $75 and reaching a valuation of $14 billion soon after its launch on Friday.$Trump MemeHowever, the launch of the MELANIA token reduced profits when it was placed on the cryptocurrency market, causing the TRUMP coin to plummet dramatically. From $75, the TRUMP coin fell to $50.39, with a $5 billion valuation loss.In this context, crypto analyst Zack Guzman shared his thoughts on both coins.He stated:"There is a very important reason why the Trump people are launching TRUMP and now MELANIA so quickly before the inauguration. And whether you love or hate Trump, the fact is that waiting another day could have exposed him to constitutional violations and another impeachment."As complicated as all of this is sure to become, one thing is certain: It's less complicated for them to launch these BEFORE he officially becomes PresidentClaiming Trump is profiting from the Presidency and violating the Emoluments Clause would have been far easier if not- Zack Guzmán (@zGuz) January 19, 2025 XIn simple terms, Guzman explained that the Trumps were racing against time to avoid legal problems. Indeed, the US Constitution prohibits any president from using their office to enrich themselves.Melania Trump also directed readers to the MELANIA on X coin website. The site states that Meme Coins are not long-term investments, but rather an expression of support.After the launch of the MELANIA coin, investors raised concerns about the possibility that it was a scam, with many claiming that Melania's X account had been hacked.Coinbase's head of commercial product operations, Conor Gregon, said, "It is very unlikely that the MELANIA token is a scam."He added:"My guess is that this token was managed by a different team than TRUMP. The latter seems to have professional market makers, while MELANIA honestly looks like a project run by university students."This Melania coin which launched a few minutes ago (and is worth a few billion) appears to be structured differently than TRUMP.Creator wallet was funded by a wallet that traded on PumpFun, and there is no sign of a multisig (Trump had one setup pre-launch) pic.twitter.com/RZjS0sTiCS- Conor (@jconorgrogan) January 19, 2025 XZack Guzman also shared his experience with the nature of these transactions, stating:"I'm pretty sure my transaction on @RaydiumProtocol completely vanished after everything failed on @JupiterExchange. $SOL gone, but no trace. Strangely not even an on-chain transaction. But is this stuff real?"Fairly certain my transaction on @RaydiumProtocol just completely evaporated after everything failed on @JupiterExchange $SOL is gone but nothing else to be found. Weirdly not even a transaction onchain. Is this shit real?- Zack Guzmán (@zGuz) January 19, 2025 XIn the same vein, Messari founder Ryan Selkis commented on this move on X saying Trump should fire whoever released the MELANIA coin:1. They don't know what they are doing.2. They cost you a lot of money and goodwill.3. They don't have your best interests at heart.Dear @realDonaldTrump:Please fire whoever recommended going forward with the Melania launch today.1. They don't know what they're doing.2. They cost you a lot of $ and goodwill.3. They don't have your interests in mind.- Ryan Selkis (d/acc) 🇺🇸 (@twobitidiot) January 19, 2025 XTrump's pro-crypto stance is always appreciated by the cryptocurrency community. Everyone is waiting for the promises made during the election campaign to be fulfilled. With Bitcoin surpassing $100,000 soon after his inauguration, cryptocurrency enthusiasts are hoping for a new future for digital assets. However, the release of these meme coins raises concerns for the Meme Coin industry.