Crash of meme coins: $TRUMP and $MELANIA lost 60% of their value.
The price of Trump's and Melania's meme coins decreased by 60%
According to Coindesk, the price of the official meme coins of US President Donald Trump and First Lady Melania has decreased by 60% since the inauguration on January 20. Investors who expected an increase in value have incurred losses of over $70 million.
The market was disappointed with Trump's initial actions in politics, which did not affect cryptocurrency, leading to a decrease in the price of meme coins. Additionally, the launch of the tokens $TRUMP and $MELANIA, associated with Trump and his wife, caused a wave of concern among investors and cryptocurrency sector representatives due to potential conflicts of interest.
The price drop also spread to other cryptocurrencies, including Bitcoin, which fell from a record $109,071 to $101,705.
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