Trump family memecoins drop sharply in price

A few hours after the inauguration of U.S. President Donald Trump, holders of the TRUMP and MELANIA meme tokens are facing significant losses. This was reported in a report by analysts from the Lookonchain platform.

Experts analyzed transactions from the Ansem crypto wallet, whose owner invested 9.38 million USDC in purchasing 194,799 TRUMP memecoins at an average price of 48.14 dollars per token. However, immediately after Trump's oath, he sold his assets for 35.04 dollars each, receiving approximately 6.83 million USDC. Losses exceeded 2.55 million dollars.

A similar situation was observed among other major holders of memecoins.

It should be recalled that Trump launched his Official TRUMP memetoken on the Solana blockchain on January 18—just a couple of days before his inauguration. By January 19, its price had skyrocketed from 6.24 dollars by more than 75%. However, over the past 24 hours, the memecoin has dropped nearly 38% and was trading at 35 dollars on January 21. The MELANIA memetoken, launched on January 19, peaked at 13.73 dollars but is now valued at 3.72 dollars.

Earlier, we reported that the OKX crypto exchange announced a giveaway of TRUMP memecoins worth 1 million dollars.