President-elect Donald Trump’s official meme coin plunged sharply Sunday evening, coinciding with the launch of another token launched by Melania Trump.
What happened: The OFFICIAL TRUMP token crashed nearly 36% from $73 to $46 late Sunday evening, wiping out nearly $5 billion worth of market capitalization, according to data from DEX Screener. The dump followed the launch of a similar token by the incoming first lady, Melania Trump.
Melania Trump shared a link to the official website of the meme coin MELANIA in her X post, with a caption, “The Official Melania Meme is live!” Donald Trump has reshared the post.
The coin, which was themed around the incoming first lady, was launched on Solana (CRYPTO: SOL), much like the token’s launch tied to her husband a couple of days ago.
The meme coin’s website issued a disclaimer, stating, “Melania Memes are intended for collecting and entertainment purposes only. They are not …
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