Melania Trump, pictured in July 2024, has launched her own meme base.
Leon Neal | Getty Images
Incoming first lady Melania Trump launched her own meme base ahead of her husband's inauguration as the 47th the president of the United States on Monday.
In a Sunday afternoon post on social media platform X, she announced that investors can “buy $MELANIA now”.
The Melania token was trading at $11.16 at 10:48 a.m. London time on Monday, up more than 50%, according to data from CoinMarketCap. It has a market cap of $2.15 billion.
President Donald Trump, who will be inaugurated for the second time on Monday, will also be in attendance launched his own meme coin – a digital currency inspired by online communities and internet memes – Friday through the Solana Blockchain network. On Monday, the “Official Trump” coin was down 20% to trade at $53.74 at 10:53am London time, according to CoinMarketCap.
Donald Trump's cryptocurrency was the biggest meme coin on the Solana network by market cap at 10:35 a.m. London time, according to data from CoinGecko, with Melania Trump's token in fourth place at the time.
In denial of the meme coins official websitepotential buyers are told that Melania memes “are digital collectibles intended to act as a way to support and connect with the values represented by the MELANIA symbol. , investment opportunity, investment contract, or security of any kind.”
On Trump's signs websitethe digital currency – depicted by an image of Trump raising his fist in the air – is marketed as a “piece of history,” while Trump himself has been called “the crypto president.” “
Trump, who has publicly take a pro-cryptocurrency stance in the past and yes reportedly planning to release an executive order making the digital asset a national priority, has promised to release 1 billion “Official Trump” tokens in the next three years. At least 200 million of this number of coins went into circulation when the token was released.
Cryptocurrencies can be volatile. Bitcoin, the world's most valuable digital coin, has been known to rise or fall thousands of dollars in a single day. Other coins, or “altcoins,” like ether and XRP have been even more susceptible to changes.
Anyone with an internet connection can spin the signals. In 2021, a A console based on the hit show “Squid Game” took off wildly off the back of hype surrounding the series – only to then lose almost all of its value, costing some investors tens of thousands of dollars.
After the launch of the “Melania” token on Sunday, the president's “Official Trump” coin briefly fell by as much as 40%, according to analysts at Kobeissi Letter. in a Sunday post on X.
– CNBC's Ryan Browne contributed to this report.
