MELANIA, the memecoin associated with Melania Trump, has plummeted by more than 80%. 🇺🇸 From its peak, the market capitalization of the coin has lost up to 1.8 billion dollars, or about 360 million dollars each day, leading many investors to wonder what happened.
Is this the end of the 'celebrity' memecoin trend? Possibly. When a coin is based more on excitement rather than utility, its collapse is almost inevitable. In the case of $MELANIA, the clear winners seem to be the Trump family, as such projects often benefit the creators while leaving most investors in failure.
The bigger question remains: where can sustainable growth come from in memecoins lacking innovation or purpose? As the excitement fades, so does the value, leaving investors with nothing more than a lesson learned.