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TRUMP flipped PENGU and became the sixth-largest meme coin.
Many of the leading meme coins have posted price declines over the past 24 hours, but this isn’t the case for the assets related to the American president, Donald Trump, and his wife.
And while their combined market capitalization remains less than $1.5 billion, numerous analysts and industry participants believe the rally could be just getting started.
TRUMP and MELANIA Steal the Show
Official Trump (TRUMP) and Melania Meme (MELANIA) are among the top-performing cryptocurrencies today (October 28). The price of the former briefly touched $8, tapping a 20-day high. Shortly after, it retraced to the current $6.96 (according to CoinGecko’s data), representing a 10% daily increase.
MELANIA has posted even more impressive gains. It exploded to a two-week high of almost $0.15 before slipping to $0.12, marking a 25% pump for the day.
While the exact reason for the surge in meme coins associated with POTUS and his wife remains unclear, some might speculate that the upcoming US-China trade talks could be a factor. Trump and the Chinese leader, Xi Jinping, are expected to meet later this week and agree on a deal that will exclude hefty tariffs and foster a positive relationship between the two global superpowers.
The crypto community is looking forward to that meeting, and a favorable outcome will likely boost the entire digital asset sector, including meme coins like those mentioned.
Further Pumps Incoming?
TRUMP and MELANIA saw the light of day towards the end of January this year when the billionaire officially became the 47th President of the USA.
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The assets entered the crypto world with a storm, and at one point, their combined market cap neared $10 billion. Currently, they are far from the glory days: TRUMP’s capitalization is around $1.3 billion, while MELANIA’s stands at less than $100 million.
Some analysts, though, think the tokens may close the gap to the record levels in the near future. X user Captain Faibik envisioned a “big pump incoming” for TRUMP, setting a price target above $11. For their part, MrsBeast DeFi predicted a 10x rally for MELANIA.
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