The cryptocurrency market continues to bleed amid global trade wars. Bitcoin (BTC) briefly fell to below $75,000 but has since reclaimed the $76,000 price point. The global crypto market cap has fallen 5.1% in the last 24 hours to $2.51 trillion. Trump Coin (Official Trump/TRUMP) and Melania Meme (MELANIA) also follow the market downtrend.
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Trump Coin And Melania Meme Faces Massive Losses
Official Trump (TRUMP) has experienced a massive price dip since its launch in January. The coin hit an all-time high of $73.43 on Jan. 19, a day before President Trump’s inauguration. The coin has fallen by nearly 90% from its January peak. The cryptocurrency is currently down by 3.4% in the daily charts, 26.7% in the weekly charts, 36.5% in the 14-day charts, and 32.9% over the previous month.
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Like Trump Coin, Melania Meme (MELANIA) has also faced a significant price drop over the last few months. The cryptocurrency hit an all-time high of $13.05 on Jan. 20, on the day of President Trump’s inauguration. MELANIA is currently down by more than 96% from its January high. The coin’s price has fallen 8.3% in the daily charts, 13.3% in the weekly charts, 26.9% in the 14-day charts, and 31.3% over the previous month.
Which Coin Will Recover First?
According to CoinCodex, TRUMP may enter a rally over the coming weeks. The platform anticipates the asset to hit $48.26 on May 6. The coin’s price will rally by around 539.29% if it hits the $48.26 target.
Like for TRUMP, CoinCodex also anticipates MELANIA to rally over the coming weeks. The platform anticipates the asset to hit $2.95 on May 6. MELANIA’s price will rally by about 490% if it hits the $2.95 target.
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There is also a high probability that the crypto market will not break out in May. The global trade war has presented substantial challenges to the financial realm. Macroeconomic headwinds may create barriers for TRUMP and MELANIA to rally as predicted.
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