Donald and Melania Trump, the soon-to-be first couple, launched their own meme coins.
Just days before president-elect Trump’s inauguration, stirring excitement in the crypto world and raising significant ethics concerns. On paper, the two cryptocurrencies are already worth billions of dollars. However, the timing of the launches—right before Trump takes office as a crypto-friendly president—has raised eyebrows among ethics experts and even some in the crypto community.
On Sunday, Melania Trump introduced her cryptocurrency, $MELANIA, via social media, which immediately caused a sharp drop in her husband’s $TRUMP coin, announced just two days earlier.
“The Official Melania Meme is live! You can buy $MELANIA now. https://melaniameme.com,” Melania posted on X (formerly Twitter).
Meme coins are a highly volatile type of cryptocurrency inspired by internet trends and cultural moments. They carry no inherent value but can experience wild price swings.
“My NEW Official Trump Meme is HERE!” Donald Trump wrote on X last Friday. “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to http://gettrumpmemes.com — Have Fun!”
Both coins operate on the Solana blockchain. Over the weekend, $TRUMP’s value surged, trading above $70 by Sunday afternoon, according to CoinGecko. However, after Melania launched $MELANIA, $TRUMP’s value plunged to $40. By Monday morning, $TRUMP had bounced back slightly to around $60, while $MELANIA was trading at just over $12.
This marks Donald Trump’s first official endorsement of a cryptocurrency, despite his past criticism of bitcoin, which he once called “based on thin air.”
Trump enjoyed strong backing from the crypto industry during his campaign after pledging to make the U.S. the “crypto capital of the planet.” In July 2024, he addressed the largest crypto convention and has since appointed crypto-friendly individuals, such as Howard Lutnick—a supporter of the cryptocurrency company Tether—to head the U.S. Commerce Department. Lutnick is just one of several crypto advocates set to play key roles in Trump’s administration.
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