By: Raja Zahid Akhtar Khanzada
Texas— On January 19, 2025, Melania Trump launched her meme cryptocurrency, $MELANIA, just days after her husband, President-elect Donald Trump, introduced his $TRUMP currency. This launch has created a new buzz in the crypto market, capturing the attention of investors. However, these meme currencies also carry potential risks for investors.
Melania Trump announced her currency on the social media platform X (formerly Twitter), stating, “The official Melania meme is live! You can buy $MELANIA.” This currency is built on the Solana blockchain, known for its fast and low-cost transactions. The purpose of $MELANIA is described as providing “connection” and “support” with Melania Trump, rather than being marketed as an investment opportunity.
Conversely, Donald Trump’s $TRUMP currency, launched just days before his inauguration, gained immense popularity in its initial days. According to CoinMarketCap, the price of $TRUMP surged from a few cents to $33.87, an increase of over 18,000%. Although its value later declined, it is still trading around $48.
According to CoinMarketCap:
•The market value of $TRUMP is approximately $12 billion.
•The market value of $MELANIA is approximately $1.7 billion.
Following its launch, the price of $TRUMP increased by 18,000% within the first few days. However, after the launch of $MELANIA, the price of $TRUMP fell by 45%. Initially, the price of $TRUMP reached up to $76 but saw a significant drop following the introduction of $MELANIA.
Donald Trump, who once labeled cryptocurrencies as a “scam,” began embracing crypto during the 2024 election campaign. He became the first presidential candidate to accept cryptocurrency as campaign donations. During his campaign, Trump promised to establish a strategic reserve of Bitcoin and appoint financial regulators favorable to the crypto industry.
After Trump’s victory, Bitcoin reached a record price of $140,000, marking a new milestone in the crypto market. This development has raised hopes among crypto industry experts that the Trump administration will ease the strict regulations imposed during the Biden era, which targeted crypto companies.
Meme currencies like $TRUMP and $MELANIA are highly speculative assets with limited real-world utility, often created as a joke or satire. Their rapid price fluctuations can pose significant risks to investors. In a recent example, social media influencer Halley Welch faced legal action from investors after her meme coin, $HAWK, experienced a substantial price drop.
During President Joe Biden’s administration, regulators filed lawsuits against crypto companies on charges of fraud and money laundering. However, Trump has promised to take measures to develop the crypto industry and relax regulatory constraints.
Melania Trump’s $MELANIA and Donald Trump’s $TRUMP currencies have stirred new excitement in the crypto market. While these currencies have increased investor interest, their price volatility serves as a reminder of their unstable nature. Critics suggest that investors should conduct thorough research and understand the potential risks before investing in these currencies, as they may also be associated with fraudulent activities.
