Official Melania (CRYPTO: MELANIA) coin rallied strongly on Tuesday, defying the weakness in the broader cryptocurrency market.
MELANIA Bucks Market Trends
The official cryptocurrency of First Lady Melania Trump rose as much as 7% over the past 24 hours, with trading volume surging 115% to $12.42 million in this period. The coin has rallied 25% since the beginning of the year.
MELANIA recorded nearly $351,000 in total liquidations in the last 24 hours, with $250,000 attributed to short liquidations, according to Coinglass.
Additionally, the coin’s Long/Short ratio surged to 2.63, indicating bullish bets were more than twice as prevalent as bearish bets.
The uptick contrasted with the decline in market heavyweights such as Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE), which fell 1.31% and 2.74%, respectively.
The Buzz Around Documentary
The hype could be driven in part by Amazon MGM Studios’ documentary on the First Lady, dubbed “Melania,” slated for release later this month.
A Forgetful 2025 For MELANIA
The Solana (CRYPTO: SOL)-based token launched right before President Donald Trump’s presidential inauguration last year, much like the Official Trump (CRYPTO: TRUMP) memecoin.
The token has plummeted nearly 99% from the all-time high of $13.73 set shortly after the launch. At its peak, it amassed a market capitalization of $1.73 billion, which has now collapsed to just over $13 million.
Interestingly, despite facing similar hiccups after launch, the TRUMP memecoin is up over 350% in a year and ended 2025 as one of the most successful memecoins.
Price Action: At the time of writing, MELANIA was exchanging hands at $0.1448, up 6.96% in the last 24 hours, according to data from Benzinga Pro.
Benzinga Note: Investing in meme coins is highly speculative and involves significant risk. Meme coins often lack intrinsic value and are driven by market sentiment, social media trends, and speculative trading.
Image via Shutterstock/ Evan El-Amin
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