Donald Trump’s recently launched meme coin, $TRUMP, experienced a significant setback when it dropped by 47% following Melania Trump’s entry into the crypto market with her own token, $MELANIA. This competitive move created a stir among investors and affected the performance of $TRUMP, which later doubled in price to reach $52, though it remains 30% below its all-time high (ATH) reached a day after its launch.
The launch of $MELANIA signals an intriguing trend where political figures are making moves into the cryptocurrency world, drawing curiosity and attention from the altcoin community. This development could potentially influence market dynamics as more investors become interested in these tokens, hoping for exponential returns.
