Melania Trump launched her own memecoin, $melania, which quickly gained a market cap of over $12 billion. This caused a 40% drop in the value of Donald Trump's memecoin, $TRUMP. However, $TRUMP rebounded and surged back above $64. Robinhood listed $TRUMP on its exchange, and Donald Trump's crypto platform acquired new domain names, suggesting a potential new memecoin launch. The official Trump memecoin had initially gained a market cap of $14 billion but dropped in value as traders switched to Melania's coin. Various market observers and Democratic leader Ro Khanna expressed concerns about the volatility and regulation of memecoins. Analysts described the situation as "beyond insane" as $TRUMP lost $7.5 billion in market cap in just 10 minutes after its launch.



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