Trump and Melania introduce memecoins ahead of White House debut

The cryptocurrency market has been closely watching the US markets, particularly the inauguration of Donald Trump. And partly, this is also due to some news that he revealed in recent days.

Last Friday, Trump announced the surprise launch of his own memecoin, $TRUMP, which quickly caught attention – some positive, reinforcing the future US president’s bet on cryptocurrencies, and some negative, as it is a memecoin and possibly a scheme.

Shortly after, First Lady Melania Trump also launched her own memecoin, $MELANIA, on Sunday.

As expected, both memecoins quickly gained attention from the community and significantly increased in value, attracting investors and enthusiasts.

Within hours of its launch – which was announced on Trump’s X – $TRUMP reached record values of $73 per unit, raising its capital to $14.6 billion. However, like almost all memecoins, its value dropped drastically in the following hours.

On Inauguration Day, January 20th, $TRUMP had lost nearly 30% of its peak value, now standing at $45 per unit. $MELANIA also dropped almost 28% to $5.47 per unit. This happened just minutes after Trump officially entered the White House.

In contrast, Bitcoin reached new record values, defying the trend of the memecoins that the US president supported hours before.

It is important to remember that during his campaign, Trump showed openness to supporting cryptocurrencies, even suggesting the idea of creating new regulations for virtual currencies.

However, there are critics who point out that $TRUMP and $MELANIA are basically two cryptocurrencies launched only to deceive users, considering that they are directly memecoins – which are well known for not having any long-term plans and can completely lose their value in just a few hours. It is highly likely that those who invest in these two cryptocurrencies will lose their entire investment.