Donald and Melania Trump launch rival meme coins ahead of presidential inauguration
$TRUMP and $MELANIA debut on the Solana blockchain, sparking volatility in the cryptocurrency market.
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In an unprecedented move blending cryptocurrency and political branding, President-elect Donald Trump and future First Lady Melania Trump have each launched meme coins ahead of the January inauguration, as per media reports.
The two coins, $TRUMP and $MELANIA, debuted within days of each other, generating significant buzz and volatility on the Solana blockchain.
Melania Trump announced her cryptocurrency, $MELANIA, on Sunday via social media platform X, sending $TRUMP, unveiled two days earlier, into a sharp decline.
“The Official Melania Meme is live! You can buy $MELANIA now,” she wrote, directing followers to melaniameme.com.
Donald Trump introduced his own cryptocurrency last Friday, calling it a celebration of his brand and ethos. “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” he shared on X, linking to gettrumpmemes.com.
Meme coins are highly volatile cryptocurrencies inspired by cultural trends or internet phenomena. While they lack intrinsic value, their prices can swing dramatically based on hype and speculation. $TRUMP soared to over $70 by Sunday but dropped to $40 following Melania’s announcement. It later rebounded to around $60 on Monday. Meanwhile, $MELANIA was trading just above $12 early Monday, according to CoinGecko.
This marks the first time Donald Trump has endorsed a cryptocurrency, a stark departure from his previous criticism of Bitcoin as “based on thin air.”
Trump’s engagement with the crypto community has grown since addressing a major cryptocurrency convention in July 2024. His next administration will feature prominent crypto advocate Howard Lutnick, known for supporting Tether, as Commerce Secretary.
The $TRUMP coin’s market capitalization is capped at $13 billion, with 200 million coins in circulation and a total supply of 1 billion over the next three years. Both $TRUMP and $MELANIA emphasize their role as “support and engagement” tools rather than investment opportunities.
