Melania Trump Launches MELANIA Meme Coin, Sparking Excitement and Suspicion in the Crypto Industry

Melania Trump has made waves in the crypto industry by launching her own meme coin, MELANIA, just days after her husband launched his TRUMP token.

Melania Trump has launched her own meme coin, following closely on the heels of her husband's TRUMP token launch.

Announced by Melania Trump in a post on X on January 20, the official MELANIA meme coin is now available. According to Dexscreener, at press time, MELANIA was trading at $8.04 with a market cap of over $8 billion.

TRUMP Token Sees a Drop After MELANIA Launch

Melania Trump's announcement comes just days after Donald Trump launched his own TRUMP token on January 18. The token experienced a swift surge in value, quickly reaching a market cap of $15 billion.

However, the token's price underwent a drastic decline with the debut of the MELANIA token. At press time, TRUMP's market cap had reduced by about $5 billion, dropping from a peak of $15 billion to $49.29.

Amidst the unfolding events, Zack Guzman, an analyst, shared his insights on Twitter, presenting a possible explanation for the rapid launches of both tokens.

“There is a very important reason why the Trumps are launching TRUMP and now MELANIA so fast before the inauguration. And whether you love Trump or hate Trump, the fact is that waiting another day could’ve opened him up to Constitutional violations & impeachment (again),” Guzman stated.

His suggestion is that the Trumps are acting quickly to avoid any potential legal or constitutional issues. According to Guzman, the U.S. Constitution prohibits any president from “abusing his office to enrich himself.”

Furthermore, a website for the MELANIA meme coin, shared by Melania Trump on X, indicates that the meme coins are not an "investment opportunity." It states that the meme coins are intended to be an “expression of support.”

Despite this, there were initial concerns regarding the token being a scam, with several stating that Melania's X account was hacked. Conor Grogan of Coinbase, on the other hand, stated that “it’s very unlikely the Melania token is a rug.”

“My guess is that this token was handled by a different team than TRUMP's. That one looks like professional market makers, this one honestly looks like a college kids,” he added.

Guzman also shared his personal experience with the volatile nature of the transactions.

“Fairly certain my transaction on @RaydiumProtocol just completely evaporated after everything failed on @JupiterExchange. $SOL is gone but nothing else to be found. Weirdly not even a transaction onchain. Is this shit real?”

His frustration reflects the skepticism surrounding the legitimacy and reliability of the tokens. Additionally, Messari founder Ryan Selkis urged Trump to fire the person responsible for the MELANIA project.

“1. They don’t know what they’re doing. 2. They cost you a lot of $ and goodwill. 3. They don’t have your interests in mind,” Selkis stated on Twitter.

As the Trumps continue to venture into the meme coin market, the rapid shifts in value and the controversy around their launches raise concerns.