MELANIA Token Crashed from $13.73 to $2.57, and Trading Volume is Down 50%

The token crashed from $13.73 to $2.57, and trading volume is down 50%. Its market cap was $193 million on Friday morning.

Meme coins $TRUMP and $MELANIA, launched by former President Donald Trump and the first lady, respectively, saw a large sell-off on Thursday.

According to data from Binance, the token crashed from $13.73 to $2.57, and trading volume is down 50%. Its market cap was $193 million on Friday morning.

"Investors (are) facing significant losses," CoinMarketCap said in a note.

"Despite its ties to political figures, MELANIA's future remains uncertain as investor confidence wanes. Can it recover, or is this the end of the hype?" it asked.

Meanwhile, a whale (address: 0x89...) bought 5.2 million $MELANIA at $0.13 a few days ago and sold all of them at an average price of $8.34, according to a Lookonchain posting on X.

This guy has sold all $MELANIA, making a total profit of $42.7M(62x)!

He spent 2,500 $SOL($688K) to buy 5.2M $MELANIA at $0.13, and sold all of them at an average price of $8.34 for $43.4M, making a profit of $42.7M, a 62x return!https://t.co/UFCfTsAwT3 pic.twitter.com/EJhcfVI9H5

$TRUMP was priced at $33.71, down about 9% on Friday morning.

The coins were quickly snapped up by his supporters after being launched on Thursday, and both $TRUMP and $MELANIA rose by around 7,000% to reach all-time highs of $150 and $13.73, respectively.

However, both tokens dropped back down to earth days later as Trump's meme coins continued to trade at a loss, according to Coingape.

"This is not surprising to some extent, as meme coins are known for their high volatility and uncertainty. The drop in the price of the Melania coin to an all-time low indicates investors' panic and skepticism about its performance," the outlet said.

"However, some experts speculate its possible recovery around its political association and hype around Trump meme coins," it added.