The successive launches of two memecoins linked to the Trump family are raising a wave of indignation in the crypto community. While their combined capitalization exceeds $15 billion, these initiatives are now seen as opportunistic by many experts.
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Double launch of Trump family tokens sparks market storm
The introduction of the “Official Trump” (TRUMP) token on January 18 marked the start of a turbulent sequence on the crypto market. Quickly reaching a capitalization of 15 billion dollars, this initial success was followed by the unexpected launch of a second memecoin, MELANIA, created by Melania Trump, the wife of the former American president, sending shockwaves through the ecosystem.
Jim Bianco, president of Bianco Research, didn’t watch his words saying that $TRUMP’s dazzling success has obviously aroused inordinate appetites.
You’re right if you think $TRUMP’s runaway success would make Trump greedy.
This dual initiative had an immediate impact on the market. The TRUMP token suffered a sharp drop of around 50% following the launch of MELANIA, while the latter, after peaking at $13 billion, saw its value practically halved in a matter of hours.
Edward Dowd, founder of Phinance Technologies, described this situation as “the biggest unforced error ever made before a presidential inauguration”.
Serious accusations undermine the project’s credibility
The crypto community is particularly concerned about the ethical and legal implications of these successive launches. José Maria Macedo, co-founder of Delphi Labs, suggests deliberate manipulation. According to him, insiders seem to have sought to maximize their gains with $MELANIA after underestimating the potential of $TRUMP.
They pounced on $MELANIA. In their greed, they destroyed $30 billion, turned the image into a pure swindle and probably committed several crimes too.
Ryan Selkisa supporter of Trump and former CEO of Messari calls for drastic measures, recommending the immediate dismissal of those responsible for launching MELANIA.
This dual initiative raises questions about the management of memecoins and the involvement of political figures in the crypto sector. Despite the fierce criticism, both tokens retain an impressive combined market capitalization of over $16 billion.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
