Melania releases own meme coin after Trump's new cryptocurrency reaches staggering value

Donald Trump's cryptocurrency meme coin had been soaring successful worth but abruptly suffered a steep driblet aft his woman Melania Trump launched her ain coin.

The erstwhile archetypal woman announced her crypto token Sunday day astatine 4:10pm ET connected Truth Social and X, aft which $TRUMP tanked astir 41 percent, according to terms tracker CoinMarketCap.

Despite that, Trump reposted some of Melania's announcements connected his societal media pages. 

$MELANIA is hosted connected the Solana blockchain, conscionable similar $TRUMP, and tin beryllium bought for astir $0.09. Her token is overmuch smaller than her husband's, having a marketplace headdress of astir $4.5 cardinal to Trump's $8.5 billion.

Shortly aft the soon-to-be president announced his meme coin connected Friday via Truth Social, his supporters pushed it up to a marketplace headdress of $13.3 billion.

The absorption astir radical had to Melania's meme motorboat was 1 of implicit shock.

'This is beyond insane,' analysts astatine The Kobeissi Letter posted to X. 'Less than 48 hours ago, Donald Trump launched $trump which conscionable erased $7.5 cardinal successful marketplace headdress successful 10 minutes. In the minutes astir the motorboat of Melania Trump's token, we saw monolithic merchantability orders successful $trump.'

'Looks similar crypto is becoming a household business,' prolific X influencer Mario Nawfal posted.

Meme coins are mostly considered to beryllium incredibly risky investments, since they are prone to insider-trading and utmost volatility.

There are thousands of them disposable for acquisition done galore antithetic platforms, but the astir caller meme coin that has gotten antagonistic media attraction was Haliey Welch's.

Welch, amended known arsenic the 'Hawk Tuah Girl,' launched $HAWK with the assistance of a shady instauration connected December 4. 

The token cratered by implicit 90 percent conscionable hours aft it reached a $490 cardinal marketplace cap, prompting accusations of fraud from the crypto assemblage and a suit against the creators of the coin.

According to Melania's meme website, 35 percent of the tokens person been distributed to squad vesting, 20 percent person gone to some the team's treasury and community, and 10 percent has gone to liquidity. 

Just 15 percent of the tokens are disposable to acquisition for the wide public, according to the website.

Over 147,000 crypto wallets person stakes successful $MELANIA, according to DEXScreener data. Four wallets clasp 85 percent of the token.

In a disclaimer connected the website, it says Melania's meme coin is 'intended to relation arsenic an look of enactment for and engagement with the values embodied by the awesome MELANIA.' 

The coin is 'not intended to be, oregon to beryllium the taxable of, an concern opportunity, concern contract, oregon information of immoderate type,' according to the website.

Similar disclaimers are contiguous connected Trump's meme coin website, which are astir surely an effort to debar an enforcement enactment from the Securities and Exchange Commission.  

Trump's meme coin announcement featured an creator rendering of the coin showing Trump pumping his close fist successful the aerial with the slogan, 'Fight, Fight, Fight.'     

'My caller Official Trump Meme is here! It's clip to observe everything we basal for: winning!' the president-elect wrote. 'Join my precise peculiar Trump Community. Get your $Trump now. Go to — Have Fun!'

It features an representation of Trump successful the moments aft an assassination effort astatine a run rally successful Butler, Pennsylvania, connected July 13, 2024, erstwhile helium defiantly threw his manus successful the aerial to amusement helium was unharmed.

Both Melania and Trump's coins are fungible tokens, meaning that each token is identical and interchangeable with 1 another. Government-issued currencies similar US dollars are considered fungible arsenic well.

Trump has besides sold non-fungible tokens in the past, amended known arsenic NFTs. They were billed arsenic integer trading cards that featured him successful assorted heroic settings.

The associated announcements came arsenic Trump is acceptable to beryllium inaugurated arsenic the adjacent president connected Monday aft defeating Vice President Kamala Harris successful the November election.

Trump has already announced he'll beryllium signing a flurry of enforcement orders connected time 1 of his 2nd presidency, the astir anticipated being his decree to prevention TikTok aft it was concisely banned successful the US connected Saturday.