Donald and Melania Trump Launch Meme Coins Ahead of Inauguration
Donald Trump and Melania Trump have launched two meme coins, $TRUMP and $MELANIA, ahead of Trump’s inauguration, sparking significant attention in the cryptocurrency market. Melania announced her coin, $MELANIA, on social media, causing the value of Trump’s $TRUMP coin to drop sharply after initially reaching over $70. The $TRUMP coin had surged in value after its release but fell to around $40 following Melania’s launch, though it recovered somewhat by Monday. Both coins operate on the Solana blockchain and are marketed as supporting the Trump brand rather than serving as serious investments. Despite their popularity, both coins are meant to celebrate the Trump family’s ideals, with disclaimers stating they are not investment opportunities. The $TRUMP coin has a market cap of $13 billion, and up to 1 billion coins will be released over the next three years. These releases mark a shift in Trump’s stance toward cryptocurrency, especially after previously criticizing Bitcoin. The meme coins’ rise highlights the growing intersection of cryptocurrency and popular culture, though their long-term significance remains uncertain.
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Melania and Donald Trump Enter the Cryptocurrency Market with New Meme Coins
In an unexpected turn of events, the incoming first couple has launched a pair of meme coins just days before Donald Trump's inauguration. These highly volatile cryptocurrencies, $MELANIA and $TRUMP, have taken the internet by storm, drawing attention from both crypto enthusiasts and supporters of the president-elect.
The first to announce her entry into the crypto world was Melania Trump, who unveiled the $MELANIA coin on Sunday through a post on X (formerly Twitter). "The Official Melania Meme is live! You can buy $MELANIA now," she wrote, alongside a link to the coin's official website. This announcement sent shockwaves through the crypto market, especially since it came just days after Donald Trump launched his own meme coin, $TRUMP, on Friday.
Trump's $TRUMP coin had initially soared in value, reaching over $70 by Sunday afternoon. However, Melania's surprise release of $MELANIA caused a sharp decline in the price of the Trump coin, which dropped to around $40 before partially recovering to $60 by Monday morning. Meanwhile, $MELANIA was trading at around $12, making it an intriguing (if unpredictable) addition to the meme coin market.
Both coins are built on the Solana blockchain, a popular platform known for its speed and scalability. Despite the media frenzy surrounding their launch, both coins are not meant to be taken as serious investment opportunities. The websites for $MELANIA and $TRUMP explicitly state that the coins are intended to "support and engage with" the values of their respective brands, rather than serve as traditional financial assets. The coins carry no intrinsic value and, like most meme coins, are subject to extreme price fluctuations.
In a notable development, $TRUMP is the first cryptocurrency endorsed by the president-elect, who has previously expressed skepticism about Bitcoin, calling it "based on thin air." Despite his past criticisms of digital currencies, Trump has taken a different stance since addressing the crypto community at a major convention in 2024. Furthermore, Trump's upcoming administration has appointed crypto-friendly figures, such as Howard Lutnick, to key positions, signaling a potential shift toward embracing digital assets during his second term.
The $TRUMP coin, with its market cap pegged at $13 billion based on 200 million circulating coins, has generated significant interest. The project’s roadmap outlines the issuance of up to 1 billion coins over the next three years, adding to the intrigue. Both $TRUMP and $MELANIA coins come with disclaimers, making it clear that they are not meant to be investments or securities. Instead, they are designed to celebrate the Trump brand and engage the community with its values.
Critics may argue that meme coins like these are nothing more than speculative ventures, but their growing popularity underscores the increasing influence of cryptocurrency in mainstream culture. Whether this marks the beginning of a new wave of crypto projects tied to political figures or merely a short-lived gimmick remains to be seen. For now, the release of $MELANIA and $TRUMP has certainly added a new layer of excitement to the already volatile world of digital currencies.