Melania Trump’s Meme Coin Crashes Just a Month After Release

In just more than a month since its release to the public, the value of the Melania Trump meme coin has dropped like a rock.The value of the $MELANIA cryptocurrency is now less than one dollar, steadily dropping since it was launched in the wake of her husband’s inauguration on January 20. At the time, the meme coin instantly saw a sales surge, leading to a market capitalization of $11.4 billion. However, shortly after its release, the value of $MELANIA quickly started to flatline and now sells for 99 cents.“REMINDER: If you invested $13,000 in Melania Trump’s crypto scheme just a month ago, your balance is now $990,” Podcaster and writer Brian Krassenstein wrote in a post on X along with a chart that shows the drop in value.Meme coins are known for being a highly unpredictable facet of the cryptocurrency market. The tokens were initially created as a humorous concept with little value. Still, they can quickly see a dramatic price surge if they gain sufficient interest from investors, leading to them being rife for scheming.Meme coin sales often fall victim to various scams, mainly “pump and dump” schemes in which the price of a new meme coin is artificially inflated through coordination of purchasing efforts and then rapidly sold off, leaving unsuspecting investors with significant losses after the value crashes.The $Melania meme coin was released just days after Mr. Trump had released one of his own NFTs, which netted the meme coin a fully diluted market capitalization totaling more than $72 million and gave the incoming president $50 Billion worth of capital out of thin air, according to a report last month from Axios.The value of the $TRUMP meme coin dipped more than 75 percent within the first two weeks after its initial release, dropping to a market cap of $3.3 Billion.

Melania Trump’s Meme Coin Crashes Just a Month After Release

Melania Trump’s Meme Coin Crashes Just a Month After Release

More from the New York Sun

‘How Can French People Do This to France?’

After Russia’s Reprieve From U.S. Sanctions, Trump Administration Tells Europe To Step Up, Quit Playing Both Sides

Netanyahu Offers High Praise to Trump After U.S. President’s Endorsement, Calling Him Greatest Friend Ever to Israel

Democrats Hold Major Enthusiasm Advantage Headed Into the Midterms, Polls Show

A Sublime Deviation From the Norm

Sonos Gives Its Headphones Another Hearing

Israel Calls on French Jews To Move to the Jewish State as Riots and Arson Engulf France; Macron Addresses Nation

Why So Many American Men Are Afraid of Dressing Well

More from the New York Sun

‘How Can French People Do This to France?’

After Russia’s Reprieve From U.S. Sanctions, Trump Administration Tells Europe To Step Up, Quit Playing Both Sides

Netanyahu Offers High Praise to Trump After U.S. President’s Endorsement, Calling Him Greatest Friend Ever to Israel

Democrats Hold Major Enthusiasm Advantage Headed Into the Midterms, Polls Show

A Sublime Deviation From the Norm

Sonos Gives Its Headphones Another Hearing

Israel Calls on French Jews To Move to the Jewish State as Riots and Arson Engulf France; Macron Addresses Nation

Why So Many American Men Are Afraid of Dressing Well