News View Non-AMP

Crypto News Today: Why Are Trump-Family Memecoins Causing a Controversy?

Published by
Nidhi Kolhapur

When Melania Trump launched her own memecoin over the weekend, positioned to rival Donald Trump’s $TRUMP, the crypto world was thrown into chaos. What followed was a dramatic rollercoaster of price jumps, sharp declines, and market drama that left even seasoned traders scratching their heads.

As $TRUMP took a 40% hit before rebounding, Melania’s coin saw a stunning rise — only to crash shortly after.

But what’s behind the hype, and what does it mean for the broader market? Read on to find out.

The $MELANIA Coin

“The official Melania meme is live,” Melania Trump announced on X, linking to a site where people could buy her cryptocurrency. “You can buy $MELANIA now,” she said.

Within hours, $MELANIA’s price shot up to over $12 per token, reaching a market cap of $12 billion. However, the excitement quickly faded, and the coin dropped to $5.97 at press time, showing just how volatile the world of memecoins can be.

Trump Coin Recovers

Despite the initial drop, $TRUMP bounced back above $64 after Robinhood listed the coin on its platform. The listing sent $TRUMP’s market cap to $14 billion, pushing it into the top 20 cryptocurrencies. However, the coin’s rise was short-lived as traders moved toward Melania’s coin.

Controversy Brews

Crypto influencers and experts quickly weighed in. Mario Nawfal joked on X, “Looks like crypto is becoming a family business.”

Besides, Democratic leader Ro Khanna expressed concerns about market volatility noting that elected officials should be barred by law from having meme coins. 

“Elected officials must be barred from having meme coins by law. Meme coins are highly speculative and like gambling must be regulated by the SEC. They are neither neutral money (not controlled by insiders) nor platforms for innovation,” Ro Khanna noted.

Former Trump advisor Anthony Scaramucci criticized the focus on meme coins, claiming Melania coin’s launch caused the Trump coin to crash. He sarcastically remarked that this attention on coins, just before Trump’s inauguration, shows his priorities.

Scaramucci also warned that the Trump coin poses a serious risk, allowing anyone globally to easily deposit money into the president’s account, making favors—geopolitical, corporate, or personal—potentially for sale.

$TRUMP and $MELANIA Suffer Major Losses

The situation around both coins has been chaotic. Analysts from The Kobeissi Letter called the market movements “beyond insane,” noting that $TRUMP lost $7.5 billion in market cap in just 10 minutes after launch.

Since Trump’s inauguration, $TRUMP has fallen over 30%, with $3.5 billion of its market cap disappearing in under one hour. As of now, $TRUMP is trading at $41.52, down 35% in the past 24 hours. Meanwhile, $MELANIA is also down over 35% since Trump’s speech.

What Critics Are Saying

Critics argue that the Trumps’ involvement in memecoins hurts the credibility of other legitimate crypto projects. Nate Geraci, President of ETF Store, stated that traders of these coins are aware they’re betting on highly speculative assets, not investing in real projects.

Many in the crypto space share this concern, saying that the Trumps’ actions could overshadow cryptocurrency projects with genuine utility.

Nidhi Kolhapur

Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

Recent Posts

Breaking: XRP ETF Approved, But it’s Not Spot ETF

The U.S. Securities and Exchange Commission (SEC) has approved the first-ever XRP futures ETF, launched…

April 28, 2025

Pi Coin Price Drops 4% as New Whale Buys 48 Million Tokens: What It Means for Investors

Pi Coin’s price has dropped by more than 4% and is now trading at around…

April 28, 2025

XRP ETF Incoming: SEC Approves April 30 Launch for ProShares

In a much-awaited development that could shake up the digital asset space, a recent filing…

April 27, 2025

XRP Price Prediction And Analysis For April 27

XRP continues to show strength despite recent market volatility. While Bitcoin experienced sharp moves, XRP’s…

April 27, 2025

Next 23x Token? This DeFi Crypto Could Outperform SOL and AVAX in 2025

In a market where momentum often shifts fast and unpredictably, smart investors are increasingly focused…

April 27, 2025

Where to Earn Passive Crypto Income: Is FXGuys the Best Altcoin Presale Right Now?

Everyday trading isn’t everyone’s cup of tea. Not everyone wants to stare at screens all…

April 27, 2025