Melania Trump Launches Meme Coin $MELANIA, Sending Her Husband's $TRUMP Cryptocurrency Plummeting

Meme coins are a type of highly volatile cryptocurrency inspired by popular internet or cultural trends. They carry no intrinsic value but can soar, or plummet, in price.

President-elect Donald Trump and incoming first lady Melania Trump have each launched their own meme coins ahead of Trump’s inauguration.

Melania Trump unveiled her cryptocurrency, $MELANIA, in a social media post Sunday, sending her husband’s cryptocurrency, $TRUMP, which was announced two days prior, nosediving.

“The Official Melania Meme is live! You can buy $MELANIA now,” the future first lady wrote on X Sunday. “https://melaniameme.com.”

Meme coins are a type of highly volatile cryptocurrency that is inspired by popular internet or cultural trends. They carry no intrinsic value but can soar, or plummet, in price.

“My NEW Official Trump Meme is HERE!” Trump wrote on X Friday. “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com — Have Fun!”

Both coins are trading on the Solana blockchain. Trump’s meme coin skyrocketed throughout the weekend and was trading at over $70 by Sunday afternoon, according to CoinGecko.

However, the president-elect’s coin plummeted to $40 after Melania unveiled her coin. It has since regained some of those losses and was trading at around $60 early Monday. $MELANIA was trading at just over $12 early Monday, according to CoinGecko.

$TRUMP is the first cryptocurrency to be endorsed by the incoming president, who once slammed bitcoin as being “based on thin air.”

In July 2024, Trump addressed crypto’s largest convention and has since appointed Howard Lutnick, who backs the cryptocurrency company Tether, to lead the US Commerce Department. Lutnick is among several crypto enthusiasts who have been tapped for Trump’s next administration.

The market capitalization for the Trump coin, which is based on the 200 million coins in circulation, is capped at $13 billion, according to CoinMarketCap. The meme coin’s website states that there will be 1 billion Trump coins over the next three years.

Both $MELANIA’s and $TRUMP’s websites include disclaimers that state that the coins are “intended to function as a support for, and engagement with” the values of their respective brands and “are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type.”

The website states that the meme coin is not politically affiliated. But 80% of the coin’s supply is held by Trump Organization-affiliates CIC Digital and Fight Fight Fight LLC, both of which are subject to a three-year unlocking schedule — meaning they cannot sell all of their holdings at once.

The $TRUMP coin’s website states that it is “the only official Trump meme.”

“Now, you can get your piece of history,” the website reads. “This Trump Meme celebrates a leader who doesn’t back down, no matter the odds.”