Melania Trump has launched her multibillion-dollar cryptocurrency meme coin $MELANIA, on the eve of her husband, Donald Trump, inauguration on 19th January 2024 as the 47th President of the United States.
A meme coin is a type of cryptocurrency inspired by trends such as internet memes with no inherent utility, and are often susceptible to price swings and crashes.
She launched the $MELANIA, a day after President-elect Donald Trump launched the $Trump cryptocurrency. Both coins have risen but have seen volatile trade.
$MELANIA
According to its official website, the $MELANIA coin is a crypto asset built on the Solana blockchain, a popular network known for its scalability and speed. The coin’s website specifies that its services are available only to individuals who can legally enter into binding contracts. Users must be at least 18 years old or the age of majority in their jurisdiction to access the services.
The website also reserves the right to terminate access for individuals who fail to meet these requirements. The website emphasises that the coin is “not intended to be, or the subject of, an investment opportunity or a security.”
According to the CoinMarketCap website, $Trump has a total market valuation of about $12bn (£9.8bn), while $Melania’s stands at around $1.7bn.
Despite Donald Trump’s past dismissal of cryptocurrencies as a “scam,” his stance shifted dramatically during the 2024 election campaign, where he embraced digital assets.
Shortly after the launch of $Melania, the price of $Trump fell by more than 50%, from $75 to $30, before recovering steadily in subsequent hours to about $64. The market capitalisation of $Melania reached as high as $13bn.
The Future Of Cryptocurrencies
Bitcoin, the leading cryptocurrency, surged to an all-time high of $107,000 after Trump’s victory, according to Coinbase.
Similarly, other cryptocurrencies, such as Dogecoin—frequently promoted by Trump ally, Elon Musk—have seen significant gains in 2024 and early 2025.
As of now, the $Trump cryptocurrency boasts a market valuation of approximately $12 billion (£9.8 billion), while $MELANIA has reached a valuation of around $1.7 billion, according to CoinMarketCap.
Since his victory in November, Bitcoin rose from $75,000 to an all-time high of $108,135 on December 17, 2024, a 44% jump. During his 2024 campaign, Trump made several significant promises to the crypto community.
Speaking at the Bitcoin conference in July 2024, Trump set forth an ambitious vision: the establishment of a national Bitcoin reserve. This bold proposal has energized the crypto community.
While time will tell whether Trump is able to enact his crypto-related proposals, his election marks a regulatory shift towards more a crypto-friendly environment that could potentially lead to increased development of digital asset applications in diverse fields such as data security, healthcare, and supply chains.
Discover more from LN247
Subscribe to get the latest posts sent to your email.
