Husband's $Trump or Wife's $Melania: Which Memecoin Will You Pick? According to CoinGecko, Donald Trump and Melania meme coins stand at 21st and 89th position, respectively on the list of most valuable cryptocurrencies in the world.
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Following the footsteps of the 47th President of the United States and husband, Donald Trump, Melania Trump launched her memecoin $Melania on the Solana platform early Monday.
The official Melania meme token has reached an M-cap of USD 1.5 billion, trading at USD 10.44 at the time of publishing. Meanwhile, the Official Trump token sits at a comfortable M-cap of USD 10.6 billion, trading at USD 53.69. Following the launch of $MELANIA, the price of $TRUMP plummeted by over 50 per cent, dropping from USD 75 to USD 30, before gradually recovering in the subsequent hours.
The Official Melania Meme is live!
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
According to CoinGecko, Donald Trump and Melania memecoins stand at 21st and 89th position, respectively on the list of most valuable cryptocurrencies in the world.
The launch move aligns with Trump's swearing-in ceremony as the 47th President of the United States.
What are meme coins?
Meme coins are cryptocurrencies inspired by internet memes and trends. They often have names from popular social media characters or animals. Influenced by pop culture and online hype, memecoins are highly volatile and speculative.
According to CoinMarketCap, memecoins have amassed an M-cap of USD 115.34 billion. Fellow trading meme coins include Shiba Inu, Pepe, FLOKI, and Elon Musk's beloved DOGECOIN.
Entertainment or investment?
While the official websites for the husband-wife duo cite the coin as 'digital collectibles' and should not be treated as 'an Investment Opportunity,' it has attracted a substantial number of investors, hitting a 24-hour trade volume of USD 5 billion for $Melania and USD 44 billion for $Trump.
Instant gratification has never been the right move when dealing with financial assets. X's Grok states that the value drop of $TRUMP was due to people selling it to buy Melania Trump's new memecoin, $MELANIA, leading to a volatile market response and a crash in $TRUMP's value. The play is reaping benefits for some, while others criticise the practice.
"This event marks a new chapter for meme coins, as celebrity participation like Trump's could inspire others to issue their own tokens, fostering diversification within the meme coin market. Additionally, $TRUMP's launch on Solana has boosted the blockchain's transaction volume and network activity. While this provides short-term gains, Solana's performance may depend on sustained interest in $TRUMP. The broader impact suggests that celebrity-backed tokens could reshape market trends, drawing in fresh capital and further integrating blockchain with mainstream audiences," said Ryan Lee, chief analyst, Bitget Research.
User @Danny_Crypton predicts that other Trump members will follow suit.
You asked me yesterday.
— DANNY (@Danny_Crypton) January 20, 2025
So, let's begin.
$5 to $1M starts NOW ?
The next $TRUMP, the next $ELON, the next #MELANIA – I'm coming for YOU!
if you're in:
• Like & retweet
• Drop comment "TRUMP" pic.twitter.com/Y4SFPdDPvW
At present, the crypto m-cap stands at USD 3.7 trillion, with Bitcoin contributing a stellar USD 2.12 trillion. It also touched a new all-time high of USD 109,114.88 (currently trading at USD 107,020) following the memecoin announcement by the incoming First Lady of America and ahead of the swearing-in ceremony.
