Melania Memecoin Is Down 90% From Peak as Novelty Value Wanes

Crypto enthusiasts are learning the hard way that even the US First Family’s participation in a memecoin is no guarantee of success.

Melania Trump’s crypto memecoin MELANIA has lost almost 90% of its value in the weeks since Donald Trump’s inauguration, while the president’s token TRUMP has seen its price fall around 75% from its all-time high, according to data compiled from CoinMarketCap.

CoinMarketCap

Memecoins are highly volatile and generally do not have much intrinsic value. The tokens can often depend on something going viral, but that can be short-lived, according to Stephane Ouellette, chief executive officer ...