Trump's meme coins frenzy cools down! $TRUMP and $MELANIA's coin prices plummet by 48% and 67%.

During the weekend, US President Donald Trump and his wife Melania launched official meme coins $TRUMP and $MELANIA, which immediately triggered a buying frenzy and caused the coin prices to skyrocket. However, the prosperity was short-lived, causing many hopeful investors to suffer heavy losses.

Can high trading volume not support the price of coins?

According to CoinGecko market data, after Trump's official inauguration, $TRUMP and $MELANIA experienced profit-taking selling pressure, with drops of 48.4% and 67% from their historical highs, respectively. The performance of futures contracts related to these coins is also not optimistic, with long traders experiencing losses of up to $70 million.

It is worth noting that $TRUMP and $MELANIA are not small coins with low trading volume and easily manipulated. Data shows that the trading volume of $TRUMP reached as high as 19.0 billion US dollars within 24 hours, while the trading volume of $MELANIA reached 4.5 billion US dollars. In comparison, the trading volumes of TRON (TRX) and Cardano (ADA) during the same period did not exceed 4.0 billion US dollars, indicating the market's enthusiastic pursuit of the Trump family meme coins.

However, as the coin price fell, buying momentum quickly cooled. According to the data compiled by on-chain analyst @Seoulcalibur.eth, the trading volume of $TRUMP on Moonshot, which averaged over 6 million US dollars per day during the weekend, sharply decreased to only about 1 million US dollars in the past 24 hours.

The market is still waiting for cryptocurrency-friendly policies to be introduced.

Nevertheless, the market remains optimistic about the Trump administration's friendly policies towards the introduction of cryptocurrency, and Solana (SOL) has become the focus of investors' attention.

QCP Capital pointed out in its analysis report on Tuesday: "$TRUMP's choice to issue on the Solana chain is undoubtedly a significant endorsement of the chain, and it also greatly accelerates the approval schedule for the Solana ETF.

With the increase in media exposure brought about by the issuance of such meme coins, retail funds will continue to pour in.

QCP Capital further pointed out, "The launch of the Trump meme coin not only attracted the attention of retail investors, but also drew the interest of institutional investors, as it solidified Trump's friendly stance towards cryptocurrencies."

Now, institutional investors are eagerly awaiting more specific crypto-coin friendly policies, which could have a profound impact on the future economy.

The Trump couple's meme coin craze has died down! $TRUMP, $MELANIA coin prices have plummeted by 48% and 67% respectively. This article was first published in "Blocktimes".