TL;DR
- The TRUMP cryptocurrency rose 10%, reaching a 20-day high.
- The MELANIA token registered an even stronger rise, soaring 25% on the day.
- The rally coincides with speculation over upcoming trade talks between the US and China.
Over the last 24 hours, the general trend in the memecoin market has been downward. But two assets are standing out in the green: the memecoins related to President Donald Trump and his wife (TRUMP and MELANIA).
These assets are experiencing a notable double-digit rally this October 28. Although their combined market capitalization remains below $1.5 billion, numerous analysts and industry participants suggest this bullish move might be just beginning.
The official Trump (TRUMP) cryptocurrency is among the day’s top performers. Its price briefly touched $8, marking a new 20-day high. Although it retraced slightly, at the time of writing, it is trading at $6.96, representing a solid 10% daily increase, according to CoinGecko data.
Meanwhile, the Melania Meme (MELANIA) token has registered even more impressive gains. The asset soared to a two-week high of almost $0.15, before adjusting to $0.12, marking a notable 25% pump on the day.
Trade Talks Driving Speculation?
Although the exact reason behind this sharp increase in the TRUMP and MELANIA memecoins remains unclear, market speculation points to a key geopolitical factor.
President Trump and Chinese leader Xi Jinping are expected to meet later this week. The market anticipates a possible deal that could exclude significant tariffs and foster a positive relationship between the two global superpowers.
The crypto community is paying close attention to this meeting. A favorable outcome from the trade talks would likely boost the entire digital asset sector.
In this scenario, the TRUMP and MELANIA memecoins benefit directly from the positive speculation surrounding the president, positioning themselves as high-risk investment vehicles for traders betting on the success of diplomatic negotiations.
