Washington: Hours before President-elect Donald Trump was to begin his second term as US President, incoming First Lady Melania Trump announced the launch of her cryptocurrency.
“The Official Melania Meme is live! You can buy $MELANIA now,” she posted on X.
The Official Melania Meme is live!
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
The release of $MELANIA comes two days after Trump introduced his meme coin.
Meme coins are cryptocurrencies inspired by characters, individuals, animals or artwork.
The $MELANIA cryptocurrency is built and tracked on the Solana blockchain, according to its official website.
The value of $Trump and $Melania coins increased since their launch, but are obviously subject to volatile trading.
The respective websites point out that these cryptocurrencies are “not intended to be, nor should they be considered” as investment opportunities or securities.
According to the $Trump website, the token is a symbol of support for the incoming President.
“It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community,” Donald Trump said in a post on X.
According to the CoinMarketCap website, the market valuation of $Trump meme coin is about $12 billion while the $Melania cryptocurrency is just over $2 billion.
One of Trump’s campaign promises was to end the “persecution” of the cryptocurrency industry and establish the United States as the world’s ‘Bitcoin superpower.’
He has already proposed issuing an executive order to prioritise cryptocurrency policy. It’s in contrast to the Biden administration’s approach, which focused on investigating the crypto industry over concerns related to fraud and money laundering.
