Melania Trump is making headlines not solely because the incoming First Girl but in addition 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.
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
Discover out extra under.
What Is a Meme Coin?
Memecoins are cryptocurrencies usually impressed by web memes or tendencies. They are often created and launched by anybody, and hundreds at the moment exist. Based on Coinbase, a meme coin is taken into account dangerous and even “unstable,” although generally, a coin is likely to be 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, based on CoinMarketCap.
Melania’s meme coin is issued by way of her integrated firm, MKT World LLC—a agency she has used since 2021 for varied ventures, together with promoting portraits of herself as First Girl.
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. Nonetheless, 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, based on CoinMarketCap.
What Are the Considerations About Trump’s Involvement with Meme Cash?
Potential considerations have been raised in regards to the incoming President and First Girl launching meme cash, which are sometimes unstable and a part of a crypto trade that sometimes begins as a joke with little to no actual worth. Critics have warned that the Trump meme coin might current a dangerous alternative for particular pursuits and overseas governments to aim to achieve 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.okay.a. “Hawk Tuah Woman,” launched a meme coin referred to as HAWK skyrocketing to stardom on social media—because of that raunchy viral TikTok video.
Nonetheless, 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 buyers in monetary misery, sparking an outcry on social media that the cryptocurrency was a pump-and-dump scheme. One person on X voiced their frustration, stating, “You didn’t point out that you simply have been going to purchase 97% of the availability and promote it nearly instantly to make a big revenue. If I’d have identified that info I’d haven’t bought your coin. Please assist me or who can I contact for refund? If not I will likely be pressured to make use of authorized motion.”
Welch has since commented that she is absolutely cooperating with attorneys to resolve the matter.
“I take this example extraordinarily critically and wish to handle my followers, the buyers who’ve been affected, and the broader neighborhood,” Welch stated.
“I’m absolutely cooperating with and am dedicated to aiding the authorized crew 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 Regulation.”
