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$TRUMP Token Drops Over 50% as Melania Trump Launches Meme Coin
The cryptocurrency field has undergone an exciting journey in the past 24 hours, witnessing the first-ever meme currency launched by a president of a nation. And we're not talking about just any nation; we're talking about the United States. Donald Trump has promoted his TRUMP meme coin, which has skyrocketed and within less than two days has become one of the largest cryptocurrencies, reaching a market capitalization worth billions of dollars. However, at present, this coin has plummeted, losing more than 50% in just a few hours.
Interesting fact, Donald Trump is not the only member of the family to release coins. His wife, Melania Trump, has just announced the release of her own coins.
Trump's official account X has reposted the announcement. It seems that she is following a similar strategy because over 88% of the supply is held by a single wallet, according to data from Dexscreener. At the time of writing, the token is trading at around $4 and has a market capitalization of $4 billion.