Pakinomist — $TRUMP memecoinwhich had been a sensation over the weekend, saw a 36% drop in value by mid-day on Sunday. This happened after President-elect Donald Trump tweeted about a new memecoin being launched for his wife, Melania Trump.
Melania Trump’s memecoin, called $MELANIA, was also shared on Donald Trump’s Truth account. Despite the mid-day loss, $TRUMP is still up 7000% since launching on Friday. This increase has brought considerable paper wealth to the incoming president, amounting to billions.
The market cap of $TRUMP is approximately $33 billion. The impact of Melania Trump’s memecoin on the value of $TRUMP will continue to be monitored.
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