Melania Trump, the incoming First Lady of the United States, has launched her own cryptocurrency, $MELANIA, a day before her husband, Donald Trump, is inaugurated as the 47th President.
Announcing the launch on the social platform X, Melania said, “The Official Melania Meme is live! You can buy $MELANIA now.” The cryptocurrency, hosted on the Solana blockchain, has sparked excitement in the crypto market, coming just after Donald Trump introduced his $Trump cryptocurrency.
Both $MELANIA and $Trump coins have drawn significant market attention. According to CoinMarketCap, $Trump boasts a valuation of $8.7 billion, while $MELANIA is valued at $1.3 billion. The rapid rise in interest highlights the volatility and speculative nature of digital assets.
Despite disclaimers on the official websites stating the coins are “not intended to be an investment opportunity or security,” the market reaction has been overwhelming.
Bitcoin, the world’s largest cryptocurrency, surged to a record $140,000 on Coinbase following the Trump family’s pivot to digital assets. Other cryptocurrencies, including Dogecoin, which has been promoted by Trump ally Elon Musk, also saw significant gains.
Donald Trump, who previously criticised cryptocurrencies as a “scam,” changed his stance during his 2024 presidential campaign. He became the first candidate to accept cryptocurrency donations and proposed establishing a national bitcoin reserve. He also pledged to appoint regulators who would support the crypto industry, signalling a sharp departure from the stricter regulations under the Biden administration.
David Sacks, the incoming AI and crypto czar, hosted a “Crypto Ball” in Washington, DC, to celebrate the new administration’s pro-crypto policies.
