Trump’s TRUMP and MELANIA tokens have crashed, wiping out billions in value, underscoring the risks of politically linked memecoins.

The world of crypto has been going through a period of turmoil. Two of the biggest digital currencies in the crypto world, Bitcoin and Ethereum, have suffered a major decline in their value over the recent past.

Now that there's both Official Trump (with the ticker TRUMP) and Official Melania Meme (with the ticker MELANIA) meme coins, both of which were launched recently on the Solana blockchain, people might be wondering which of the pair is the better bet.

Trump’s meme coin, $TRUMP, and Melania Trump’s coin, $MELANIA, plunged as the news agitated markets worldwide, according to Axios. $TRUMP — unveiled days before his inauguration — saw its value drop by 18% just over the last day. It's now down to $17.50 per token, compared to a peak of $72.62 the day before his swearing-in.

Donald Trump’s launch of his meme coin — coupled with low public understanding of crypto assets — could lead to financial losses from risky and speculative investments.

The launch of $TRUMP and $MELANIA crypto coins has disappointed some in the crypto industry, who fear they amplify the sector’s sillier and scammier side.