The newly launched TRUMP and MELANIA memecoins have faced notable price drops, with values plunging by as much as 60% in the past 24 hours following the inauguration.
However, these tokens, which were launched under the Trump family’s name, still highlight a promising future for digital assets, especially as part of a larger strategy to strengthen the US crypto market.
In a mere 24-hour period, the TRUMP token accumulated more than $19 billion in trading volume, while MELANIA saw $4.5 billion in transactions. These numbers demonstrate the substantial interest and large-scale participation in these assets, which easily outpaced many major cryptocurrencies, including tokens like TRX and ADA.
Despite the significant losses witnessed in the short term, the wider outlook remains positive, with investors holding onto the hope of a pro-crypto policy from the new administration. In particular, the Solana (SOL) network has become a focal point, with analysts highlighting the potential for an early approval of a Solana-based ETF.
These fluctuations are not unusual for memecoins, which often see explosive surges followed by corrections. Trump’s $TRUMP token, launched ahead of his inauguration, reached over $14 billion in market cap over the weekend. Though its value has since fallen, the token and its counterpart MELANIA still present intriguing opportunities, particularly given their massive media attention and ongoing connections to prominent political and crypto industry figures.
Crypto enthusiasts believe that Trump’s administration could significantly alter the regulatory landscape, with a clear emphasis on removing constraints that stifled the industry under the previous administration. Trump’s crypto vision includes initiatives like a proposed national Bitcoin reserve, which fueled anticipation and optimism within the crypto community.
At the launch event, dubbed the Crypto Ball, industry leaders like Coinbase CEO Brian Armstrong and Kraken co-founder Jesse Powell were among those aligning themselves with Trump’s pro-crypto stance. This alignment, coupled with his recent policies, makes it clear that Trump is set to play a critical role in defining the future of digital currencies in America.
