Jan 22, 2025
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Randa Moses
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Donald Trump’s new meme coin, OFFICIAL TRUMP (TRUMP), has lost its momentum after peaking at $75 due to the launch of Melania Trump’s token (MELANIA). The TRUMP token is trying to recover, trading at the $42 level.
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The meme token has added gains of over 11% in 24 hours, peaking at $48 before sliding back to the $42 mark. OFFICIAL TRUMP’s 24 hour trading volume is standing at $11.8 billion with a market cap of $8.4 billion.
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The TRUMP token price fell sharply from $75 to $45 and then slid down to $34 just after MELANIA’s launch. The MELANIA token gained over 69% in 24 hours after launch, reaching an ATH of $13. Currently, MELANIA is trading at $3.9.
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The largest profitable address holding MELANIA spent 800K USDC to accumulate 3.8 million of the tokens at an average price of $0.208. The wallet has sold half of the holdings at an average price of $8.583, booking a profit of $38.6 million.
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Trump, now branding himself as a “crypto president,” promised executive orders to cut red tape and boost crypto adoption. Major crypto leaders are watching closely every move made by the administration.
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