Melania Trump launched a meme coin on the eve of her husband’s inauguration — causing his own new cryptocurrency to briefly tank amid a buying frenzy.
The incoming first lady dropped news of the cryptocurrency — “$MELANIA” — on Sunday night — just days after her husband, President-elect Donald Trump, revealed his own newly created $TRUMP coin.
“The Official Melania Meme is live! You can buy $MELANIA now,” she said in a post on X.
The coin was trading at about $12.03, with a market cap of $1.9 billion, early Monday, according to CoinMarketCap.
Soon after the Melania token launched, the president-elect’s own coin briefly crashed as much as 40%, analysts at The Kobeissi Letter reported.
“Melania memes are digital collectibles intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA. and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type,” according to its website.
Meanwhile, Trump’s cryptocurrency, which sparked a buying frenzy that saw the token skyrocket more than 300% within its first few hours, soared back Monday to nearly $12 billion in market value — drawing in billions in trading volume just hours ahead of his Inauguration Day festivities getting underway.
Trump’s meme coin surged to $58.56 early Monday, giving it a market capitalization of about $11.7 billion, according to CoinMarketCap, which ranked it as the 18th biggest cryptocurrency. Its 24-hour trading volume reached $52.5 billion.
The latest venture from the Trumps is the latest in a series of merchandise released by the Trump Organization in recent months, which has also been peddling Trump-branded sneakers, fragrances, Bibles and digital trading cards.
With Post wires
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