Divisive Memecoins: The $TRUMP and $MELANIA Phenomenon Shaking Up the Crypto Community

Divisive Memecoins: The $TRUMP and $MELANIA Phenomenon Shaking Up the Crypto Community

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This weekend has been marked by significant news: the Trump family launched two memecoins consecutively, starting with $TRUMP, followed shortly by $MELANIA. The cryptocurrency centered on Donald Trump even reached a market cap of over $15 billion, surpassing several established assets. However, opinions among crypto enthusiasts are divided. Is this a positive or negative development for the ecosystem? Let’s take a closer look.

A Highly Controversial Presidential Initiative

Just two days ago, Donald Trump officially launched his own memecoin, $TRUMP. In this brief time, the new cryptocurrency has surged into the top 20 by market capitalization and even reached a peak of $15 billion.

While some celebrate Trump’s level of engagement in the cryptocurrency sector, others worry about the negative signals this sends to the global market.

The broader crypto market reacted poorly to the rise of these memecoins, with major cryptocurrencies declining between 3% to a staggering 16% for memecoins like PEPE. Fortunately, the market is showing signs of recovery this Monday morning. Nonetheless, what are the pros and cons of such projects?

By launching $TRUMP, Donald Trump has inextricably linked his image to the digital asset industry. This move solidifies his support and belief in the ecosystem. Although it isn’t the safest route, it may accelerate mainstream adoption.

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With just hours to go before the inauguration, $TRUMP might continue to break records for early achievements. Media coverage of its performance could prove beneficial and contribute to rising adoption rates.

On the downside, such volatility is bound to stabilize eventually. When $TRUMP plummets by significant percentages in mere hours, the resulting global perception could be severely negative. Furthermore, many may now associate the cryptocurrency industry with Trump’s controversial legacy and his memecoin.

It is also important to note that both $TRUMP and $MELANIA are memecoins created without any utility, which could fuel detractors’ arguments labeling our ecosystem as a speculative and lawless bubble.

In summary, while these initiatives may shine a light on the sector in the short term, they could severely tarnish the industry’s image in the long run—an industry that has aimed to innovate and drive technological advancements for over a decade.

The Market Faces Significant Liquidations

Following its peak market cap of $15 billion, $TRUMP faced a notable decline, leading to major turbulence in the market. Bitcoin, along with various altcoins, experienced a sharp drop.

Since then, many cryptocurrencies have managed to recover their losses, with Bitcoin returning to its all-time high levels. However, others like PEPE, VET, and APT continue to struggle.

Over $1.2 billion in liquidations were recorded in less than 24 hours, affecting more than 400,000 traders. $TRUMP alone accounted for $140 million in liquidations, surpassing major assets like SOL, DOGE, and XRP.

As Trump’s inauguration approaches, the industry remains uncertain about his involvement in digital assets. Some speculate that his motivations are purely financial, deviating from the support the market desired to innovate.

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A lightening of regulations is expected to occur shortly after Trump’s inauguration, potentially altering the landscape of cryptocurrency regulation.

For those looking to purchase $TRUMP or $MELANIA without using a centralized exchange, consider using a non-custodial wallet, such as Best Wallet.


Disclaimer: Cryptocurrencies are a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You may lose all of your capital.


Source: TheBlock


To Learn More:

  • What to Expect from Donald Trump for Cryptos Ahead of His Inauguration?
  • Is XRP Ready to Explode Past Its ATH with Trump’s Inauguration Approaching?
  • Are the U.S. Ready to Liquidate BTC Before Trump’s Return?

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Richad Addou

Crypto-Currency Expert Writer


Richad Addou

Crypto-Currency Expert Writer


Richad has an unconventional background. Originally trained as a nurse, he was drawn to cryptocurrencies in 2021 amidst the growing excitement surrounding digital asset markets. Convinced of Bitcoin’s transformative potential, he became truly passionate about this field. After exploring major cryptocurrencies like Bitcoin, Ethereum, and Solana, Richad focused on Avalanche, captivated by its innovative technology and ambitious goals. He even launched his own NFT project on this network, a venture he cares about deeply. Today, as a writer for ActuFinance, he combines his two favorite pastimes: writing and cryptocurrencies, sharing his passion and knowledge with a wide audience. His goal is to continue exploring the cryptocurrency universe while helping others understand this complex and ever-evolving landscape.

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