A drama in the capital market took place ahead of US President-elect Donald Trump’s inauguration. 

The crypto world was shaken this weekend when Donald Trump’s “official” memecoin made a dramatic debut ahead of his inauguration, briefly surging in value before experiencing a sharp decline.

On January 20 (late Sunday US time), Melania Trump, the incoming First Lady, introduced her own memecoin, $MELANIA. This new coin led to a temporary 50% drop in the value of her husband’s $TRUMP memecoin.

Soon after Melania’s coin was released, Donald’s memecoin, $TRUMP, crashed over -40%, as per global capital market analysts.

“Melania Trump’s memecoin, $MELANIA, surges over 24,000% to a new record high of $13. There has now been over $1 BILLION of volume in just 4 hours,” the X account of analysts wrote.

Donald’s short-lived surge in price of the coin soared, hitting $14 billion in market value and securing a spot among the top 20 cryptocurrencies by market cap during its launch.

However, analysts observed that the price of Trump’s token had dropped by $7.5 billion in just 10 minutes following the coin launch.

In a recent development of Monday, Donald Trump’s memecoin, $TRUMP, was suggested to have surged back above $64, more than +110% from its low seen after the Melania coin launch.

It was said to be +12,800% since launching on Friday night, as per reports.

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