Synopsis
Melania Trump launches her own cryptocurrency token, $MELANIA, following her husband’s introduction of the $TRUMP meme coin. Shortly after its debut, $MELANIA surged over 70%, reaching a market capitalization of over $12 billion, causing $TRUMP to drop by 40%. Both coins utilize the Solana blockchain and highlight the growing interest in meme coins.
Melania Trump, the incoming First Lady of the United States, has launched her own cryptocurrency token, joining the growing trend of meme coins. This announcement came just days after her husband, President-elect Donald Trump, unveiled a meme coin of his own.
Melania Trump shared the news on X (formerly known as Twitter), where her tweet about the new cryptocurrency quickly gained traction, boosting the coin’s value.
“The Official Melania Meme is live! You can buy $MELANIA now,” Melania Trump posted on the platform on Monday.
Crypto Tracker
TOP COIN SETSSmart Contract Tracker8.90% BuyBTC 50 :: ETH 507.78% BuyDeFi Tracker7.06% BuyAI Tracker-0.54% BuyNFT & Metaverse Tracker-3.48% BuyTOP COINS (₹) Tether87 (0.03%)BuyBitcoin8,741,771 (-3.61%)BuyEthereum279,329 (-3.76%)BuySolana21,353 (-4.04%)BuyXRP262 (-7.71%)Buy
The Official Melania Meme is live!
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
At 6:17 am IST, the Melania Meme Coin was trading at $12.31, showing an impressive surge of over 70% within a few hours of its launch during early Asian trading hours. This rapid increase pushed the coin’s fully diluted market capitalization to over $12 billion, reflecting high interest and engagement from traders.
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Like her husband’s coin, Melania’s memecoin is built on the Solana blockchain. These types of cryptocurrencies gain their value from community interest and engagement, a trend that has been growing in the crypto space.
However, the launch of Melania’s coin had an immediate impact on the market. On-chain data indicated that Donald Trump’s meme coin, which had initially soared and amassed billions in market capitalization, plummeted by around 40% as traders shifted their attention to Melania’s new offering.
Donald Trump’s meme coin had previously become one of the largest cryptocurrencies within two days of its launch, but its value plunged around 40% in just a couple of hours following the debut of Melania’s coin.
This foray into cryptocurrency by both Melania and Donald Trump comes amid the President-elect’s promise to introduce crypto-friendly regulations and appoint pro-crypto figures to key government positions. However, critics have expressed concerns that these meme coins could become a tool for special interests and foreign governments to influence the incoming administration.
On Friday, Donald Trump had promoted his TRUMP meme coin with enthusiasm, posting on Truth Social, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.”
My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
