Melania Trump is making headlines not solely because the incoming First Woman but additionally for launching her personal cryptocurrency within the type of a meme coin.
“The Official Melania Meme is reside! You should purchase $MELANIA now,” she posted on X, which was reposted by her husband, Donald Trump, on the eve of his inauguration as U.S. president.
The Official Melania Meme is reside!
You should purchase $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
Discover out extra beneath.
What Is a Meme Coin?
Memecoins are cryptocurrencies typically impressed by web memes or traits. They are often created and launched by anybody, and hundreds presently exist. In line with Coinbase, a meme coin is taken into account dangerous and even “risky,” although typically, a coin is perhaps launched as a lighthearted joke.
How A lot Is the Melania Meme Coin?
After initially launching at round $7, the Melania coin was buying and selling at roughly $8 on Monday morning, with a market cap of $1.57 billion, in accordance with CoinMarketCap.
Melania’s meme coin is issued by means of her included firm, MKT World LLC—a agency she has used since 2021 for numerous ventures, together with promoting portraits of herself as First Woman.
How A lot Is Donald Trump’s Meme Coin?
The Trump meme coin initially bought for $10 every earlier than hovering to just about $70 by Sunday morning. Nevertheless, its worth sharply declined later that day after Melania introduced her personal coin.
As of Monday morning, it’s valued at round $51, with a market cap of roughly $10.3 billion, in accordance with CoinMarketCap.
What Are the Issues About Trump’s Involvement with Meme Cash?
Potential considerations have been raised concerning the incoming President and First Woman launching meme cash, which are sometimes risky and a part of a crypto trade that usually begins as a joke with little to no actual worth. Critics have warned that the Trump meme coin may current a dangerous alternative for particular pursuits and overseas governments to aim to realize affect with the president.
“Now anybody in world can primarily deposit cash into checking account of President of USA with a pair clicks,” Anthony Scaramucci, a former Trump White Home communications director, stated on X.
In selling the meme coin, Trump urged supporters to “Have Enjoyable!” The web site promoting the tokens emphasizes that they’re supposed as expressions of help, not funding alternatives.
Who Else Has Launched a Meme Coin?
In December 2024, Haliey Welch, a.ok.a. “Hawk Tuah Lady,” launched a meme coin known as HAWK skyrocketing to stardom on social media—due to that raunchy viral TikTok video.
Nevertheless, the 22-year-old influencer confronted criticism after the worth of her HAWK meme coin reportedly plummeted by $440 million inside its first 20 minutes.
The fast decline left many traders in monetary misery, sparking an outcry on social media that the cryptocurrency was a pump-and-dump scheme. One consumer on X voiced their frustration, stating, “You didn’t point out that you just had been going to purchase 97% of the provision and promote it nearly instantly to make a big revenue. If I might have recognized that data I might haven’t bought your coin. Please assist me or who can I contact for refund? If not I shall be pressured to make use of authorized motion.”
Welch has since commented that she is totally cooperating with legal professionals to resolve the matter.
“I take this example extraordinarily critically and need to handle my followers, the traders who’ve been affected, and the broader neighborhood,” Welch stated.
“I’m totally cooperating with and am dedicated to helping the authorized group representing the people impacted, in addition to to assist uncover the reality, maintain the accountable events accountable, and resolve this matter,” Welch added. “In case you have skilled losses associated to this, please contact Burwick Legislation.”
