arbitrum

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The Arbitrum token, known as Arbitrum (ARB), was created by Offchain Labs, Inc. Offchain Labs is a company focused on developing layer 2 scaling solutions for the Ethereum blockchain, and Arbitrum is one of their flagship projects.🌱

reply guys

Meme coins, especially those backed by celebrities, can rise and fall rapidly. Recently, meme coins related to Donald Trump and his wife Melania Trump have been taking the cryptocurrency market by storm.

The TRUMP token, launched by Donald Trump, initially reached a market cap of nearly $15 billion, surpassing even popular meme coins like Shiba Inu. However, with the introduction of the new “Melania” token, the price of Trump’s official meme coin plummeted, at one point falling by more than 50%.

The extreme volatility affected not only Trump’s coin, but the entire market, causing Bitcoin and other altcoins to plummet in the past few hours. As a result, over $1.2 billion in trading positions were liquidated, and over 400,000 traders suffered losses.

Former First Lady of the United States, Melania Trump, announced the launch of her meme token MELANIA on Platform X on January 20. The move caused a sharp drop in demand for the official Trump token (TRUMP), which was launched by Donald Trump just 48 hours earlier.

TRUMP’s market cap fell by 55% within 10 minutes of the announcement, to $9.42 billion. Previously, TRUMP had been performing well, with buy orders outstripping sell orders. However, after MELANIA’s launch, selling pressure on TRUMP increased, with sell orders reaching $351.7 million versus $244.5 million in the first hour after launch. This imbalance caused TRUMP’s price to decline.

The selling pressure on TRUMP also affected Solana (SOL), which lost almost 20% of its value in a matter of minutes. However, TRUMP still has around 824,000 holders and is currently worth around $39 billion.  With a three-year vesting schedule, there is a possibility of stabilizing the price of this token in the future.

Now we wait for their daughter to launch her token 😂😂😂

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