Within 24 hours of President Donald Trump’s inauguration, both the $TRUMP and #Melania tokens experienced significant losses, plummeting by 60%.
This big drop happened because traders sold the tokens after they were disappointed that Trump’s inaugural speech did not include any friendly speech about crypto.
Before the crash, $TRUMP market value was at $13.72 billion and was priced at $56.70. But after the swearing-in, the value dropped to $8.27 billion, as prices plunged to $31.20, which is a 60% loss from its ATH of $72.
$MELANIA token was also not immune to the plunge. It lost 54% as the price dropped from $11.41 to $4.91, leaving its market capitalization at $750 million.
Meanwhile, both tokens recorded $23.5 billion in trading volume in just 24 hours, surpassing other more popular digital assets, such as Tron (TRX) and Cardano (ADA).
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