$Melania Cryptocurrency Faces 53.4% Loss After Trump’s Inauguration Speech

$Melania Cryptocurrency Faces 53.4% Loss After Trump’s Inauguration Speech
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The cryptocurrency of the First Lady Melania Trump, $Melania, has witnessed significant losses during the recent trading sessions, plummeting by about 53.40% within just 24 hours, bringing its price down to $4.64 per coin. As a result, the currency has fallen to the 98th position in the ranking of digital currencies by market capitalization.

This sharp decline came after President Donald Trump did not mention cryptocurrencies during his inauguration speech on Monday, negatively impacting most cryptocurrencies, including Melania Trump's coin.

Details about Melania Trump's cryptocurrency $Melania

Before Trump was inaugurated as President of the United States, Melania Trump announced the launch of her cryptocurrency $Melania, in a notable move within the world of digital currencies. This coin comes as part of a promotional strategy following her husband Donald Trump's launch of his own cryptocurrency $Trump, which had seen a significant rise despite the market's volatility.

The $Melania coin has been developed using Solana's blockchain technology, enhancing its credibility and transparency in trading. Through an announcement posted by Melania on the X social platform, she invited the public to invest in the new currency, stating: "The official meme of Melania has been launched! You can now buy $Melania."

Reason for the sudden decline of the currency

The sharp decline in the value of Melania Trump's coin is attributed to the negative effects stemming from President Trump's inauguration speech, which did not address the future of cryptocurrencies or provide any supportive signals for these currencies. This directly affected the sentiment of investors in the digital market, leading to a steep decline in the value of many cryptocurrencies, including $Melania.

Despite the current decline, $Melania remains one of the cryptocurrencies attracting attention in the market, as it seeks to achieve its goals of attracting new investments through a broad audience focused on digital currencies associated with famous names.

Read also:

After Trump's inauguration... Bitcoin and cryptocurrencies in the line of losses

Trump's currency won't fall alone... and the Bank of Japan threatens the market with a renewed collapse in August

Following the American president... Launch of a new cryptocurrency from Melania Trump!


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