Melania Trump announced a memecoin on the eve of her husband's inauguration, resulting in Trump's own new cryptocurrency briefly collapsing amid a buying frenzy.
The first lady announced the news of the $MELANIA cryptocurrency on Sunday night, days after her husband, President-elect Donald Trump, unveiled his newly minted $TRUMP coin.
“Melania's official meme is now available! You can buy $MELANIA now.” She said this in a post on X.
The coin was trading at around $12.03 as of early Monday, with a market cap of $1.9 billion, according to CoinMarketCap.
Immediately after the launch of the Melania token, the president-elect's own coin briefly plummeted by 40%, according to analysts at Kobessi Letters.
“The Melania meme is a digital collectible intended to serve as an expression of support and commitment to the values that the symbol Melania embodies. It is a digital collectible that is intended to serve as an expression of support and commitment to the values that the symbol Melania embodies. It is an investment opportunity, an investment contract, or any type of It is not intended to be or be a security of any kind,” the company's website states.
Meanwhile, President Trump's cryptocurrency sparked a buying frenzy that saw the token soar more than 300% in the first few hours, soaring to a market cap of nearly $12 billion on Monday, just a fraction of the inauguration festivities. Gathered a trading volume of billions of dollars before time. It's in progress.
The Trump meme coin soared to $58.56 early Monday, giving it a market cap of about $11.7 billion. According to CoinMarketCapranked as the 18th largest cryptocurrency. The trading volume in 24 hours reached $52.5 billion.
The Trump couple's venture is the latest in a series of products released in recent months by the Trump Organization, which also sells Trump-branded sneakers, fragrances, Bibles and digital trading cards.
with post wire
