Trump and Crypto Innovators Plot Big Moves for White House: This weekend, the crypto world experienced a seismic jolt following the launch of the “official” Donald Trump memecoin. As the memecoin entered the market, its value skyrocketed, propelling it into the crypto top 20 by market capitalization and reaching an eye-popping $14 billion. The dramatic debut of the coin has left traders and investors bracing for further chaos in the days ahead.
The Trump memecoin, launched on Friday evening, became an instant sensation, with its price soaring as crypto enthusiasts scrambled to buy in. The excitement was palpable, particularly with the backing of Trump’s influential name. However, the crypto rollercoaster took a surprising turn when Melania Trump, the former First Lady, launched her own rival cryptocurrency shortly after. Her coin, which also made its debut on the Solana blockchain, caused a sharp downturn in the price of Trump’s memecoin, tanking its market value.
In a tweet on social media platform X, Melania Trump announced, “The official Melania meme is live.” The post included a link to a website selling her coin, $melania, and in a short period, the new cryptocurrency surged, hitting a price above $5, giving it a fully diluted market cap of over $5 billion. The release of Melania’s coin further added fuel to the growing drama surrounding the Trump family’s involvement in the crypto space.
These developments come at a time when leaks suggest that Trump is preparing a slew of crypto-focused executive orders. As President-elect, Trump’s planned moves are causing waves of speculation, with the crypto community eagerly awaiting what’s next. Trump’s son, Eric Trump, stirred the pot further when he posted to X, “Wait until you see what they do tomorrow,” teasing additional announcements. His father echoed this sentiment in another post, writing, “We are just getting started!” These cryptic statements have left the market on edge, awaiting what could be major regulatory or policy shifts in the coming days.
Adding to the growing anticipation, the Trump family-backed World Liberty Financial (WLF) project, a decentralized finance (DeFi) initiative, saw a surge in sales of its governance token following the memecoin launches. Eric Trump expressed his belief that WLF would revolutionize DeFi and become a key player in the future of finance. “World Liberty Financial will be the future of finance,” Eric said, underscoring the family’s commitment to crypto and blockchain projects.
The market reaction to these developments has been swift and volatile. While Trump’s memecoin initially saw explosive growth, it later experienced a significant crash, falling by approximately 40% after the announcement of Melania’s coin. In the span of minutes, traders who had rushed to purchase Trump’s coin quickly switched allegiances, selling off their holdings in favor of the new offering from Melania Trump. This volatility highlights the speculative nature of memecoins and how swiftly investor sentiment can shift.
Adding to the already high expectations for crypto, MicroStrategy CEO Michael Saylor, who has transformed his company into a massive bitcoin-buying vehicle, hinted at new developments for bitcoin and crypto. Saylor posted on X, “Things will be different tomorrow,” fueling further speculation that Trump could be preparing to announce a national bitcoin reserve. This idea was initially proposed by Trump during a bitcoin conference last year, where he discussed creating a reserve of bitcoin similar to the U.S. gold and oil stockpiles.
While the Trump family memecoin saga has already been nothing short of sensational, it is far from over. The latest twists, including the rivalry between the two memecoins and the upcoming crypto-related policy shifts, have created an environment of uncertainty and excitement in the crypto markets. With such high-profile figures backing these digital assets, it is clear that the crypto world is bracing for more action as Trump’s inauguration approaches.
As analysts and traders reflect on the rollercoaster ride so far, some are already calling this phenomenon “insane.” The price swings have been extreme, with Trump’s coin erasing billions in market cap within minutes. Despite the rollercoaster nature of these moves, the Trump family’s increasing involvement in the crypto world signals that we are witnessing the beginning of a new era of U.S. crypto innovation. As the Trump administration’s influence grows, the crypto community will be watching closely to see how these bold moves unfold.
