Donald Trump’s memecoin losing to wife Melania? US Prez-elect's crypto drops 38% as $MELANIA skyrockets to $6 bn

Donald Trumps memecoin, $TRUMP, plummeted by 38%, losing $5 billion in value due to the launch of Melania Trumps rival memecoin, $MELANIA, which quickly reached a $6.14 billion market cap. Concerns arose over $MELANIAs token distribution, cybersecurity flaws, and rushed development. The competing launches occurred just before Trump's presidential inauguration.