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Fragility of TRUMP and MELANIA coins

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  • Chen, Muying
  • Wang, Shouyang
  • Wei, Yunjie

Abstract

Bull markets amplify celebrity brand effects and enable massive wealth creation via meme coins; however, TRUMP and MELANIA coins reveal dual fragility. Results show strong price comovement between the TRUMP and MELANIA coins, both of which are heavily reliant on political narratives and social media hype, with little fundamental backing that indicates “value fragility.” In particular, MELANIA coin shows a substantial reliance on Trump’s political brand. The TRUMP and MELANIA coins are subject to public sentiment shifts, triggering herd behavior and dramatic price swings, transforming them into “reservoirs of market risk,” and thus illustrating “market fragility.”

Suggested Citation

  • Chen, Muying & Wang, Shouyang & Wei, Yunjie, 2025. "Fragility of TRUMP and MELANIA coins," Finance Research Letters, Elsevier, vol. 85(PD).
    • Handle: RePEc:eee:finlet:v:85:y:2025:i:pd:s1544612325013893
    DOI: 10.1016/j.frl.2025.108134
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    References listed on IDEAS

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    1. Wei, Yu & Hu, Rui & Wang, Qian & Zhou, Chunyan, 2026. "The trump shockwave: How presidential tenure redefined cross-asset spillovers in cryptocurrency, commodity, and capital markets," Finance Research Letters, Elsevier, vol. 89(C).

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