[NEWS] Former First Lady Melania Trump Launches "MELANIA" Meme Coin, Stirring Turmoil in the Crypto Market

On the 20th, Melania Trump, wife of U.S. President-elect Donald Trump, announced the launch of her official meme coin, "MELANIA."

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

Earlier, on January 18, Donald Trump had launched a meme coin bearing his name, "TRUMP," which quickly gained traction, reaching a market capitalization of approximately $1.5 billion (about ¥2.3 trillion). The coin garnered significant attention in the cryptocurrency market.

However, the landscape shifted dramatically when Melania Trump unveiled her own meme coin, aptly named "MELANIA." Following the announcement, the price of TRUMP plummeted, with its market capitalization shrinking to around $700 million (about ¥1.2 trillion) in just a few hours. As of now, the coin remains highly volatile, fluctuating around $1.2 billion (about ¥1.8 trillion).

Meanwhile, MELANIA achieved a market capitalization of approximately $180 million (about ¥280 billion) within hours of its launch. Its price surged to a peak of $14 (about ¥2,000) before falling to the ¥1,000 range around noon Japan time on the 20th. At the time of writing, the price has rebounded to near its all-time high. However, concerns have been raised about the coin's credibility, as nearly 90% of its tokens are held in a single wallet, casting doubts over market reliability.

Some analysts suggest that the sharp decline in the TRUMP meme coin’s value is due to funds being redirected to MELANIA. Additionally, while the wallet for the TRUMP project adopted a multi-signature (multi-sig) mechanism, the wallet used to launch MELANIA appears to lack this feature. This has raised speculation that the team behind MELANIA may be different from the one responsible for TRUMP.

The issuance of both TRUMP and MELANIA before the inauguration has been interpreted by some as an attempt to avoid accusations of constitutional violations and abuse of power. This timing has only deepened concerns about the projects' credibility.

While these meme coins have created a buzz in the cryptocurrency market, their high volatility and questions surrounding their reliability have highlighted risks for investors. Whether the Trump-related meme coins will fade as a passing “meme” or spark a new trend remains a key point of interest as the inauguration approaches.

Reference: Announcement
Image: Shutterstock

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