🚨 Crypto News: Meme Coins Take a Wild Dive as Melania Trump Shakes Things Up

The meme coin universe has been thrown into chaos as $DOGE and $SHIB nosedive more than 7% in the last 24 hours. The catalyst? Melania Trump entering the meme coin arena with her own cryptocurrency dubbed "Melania." Her launch triggered a liquidity drain, leaving Dogecoin and Shiba Inu battered as investors scrambled to jump on the new coin's hype.

This dramatic plunge echoes a similar scenario from this weekend when Donald Trump’s meme coin, "Trump," flipped $SHIB as the second-largest meme coin and even rivaled $DOGE for dominance. With both Trumps now flexing their meme coin muscles, the traditional toppers of the category are finding their market caps under heightened pressure.

Adding fuel to the fire, Bitcoin's price drop to $100,000 only exacerbated the bearish trend across the crypto market. Given $DOGE and $SHIB’s tight correlation to BTC, they naturally slumped in tandem.

On the bright side, whales seem unfazed by the turbulence. Over the weekend, 1.83 billion $DOGE were snapped up by major players, signaling strong accumulation that could pave the way for a price bounce. $SHIB also witnessed a staggering 145% surge in large transactions, hinting that big investors might be gearing up for a turnaround.

Could this be a short-term stumble before the meme coin giants recover? Investors will be keeping a close watch.

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⚠️ Disclaimer: This analysis is for informational purposes only and should not be considered financial or investment advice.
#DOGE #SHIB