Melania Trump, poised to become the First Lady of the United States, has unveiled her own cryptocurrency, $MELANIA, just a day before her husband, Donald Trump, is inaugurated as the 47th President.
Taking to the social platform X, Melania announced, “The Official Melania Meme is live! You can buy $MELANIA now.” Hosted on the Solana blockchain, the cryptocurrency has generated significant buzz in the digital asset market, following closely on the heels of Donald Trump’s $TRUMP coin launch.
The $TRUMP cryptocurrency has already reached a valuation of $8.7 billion, while $MELANIA is valued at $1.3 billion, according to CoinMarketCap. These valuations underscore the speculative nature of digital assets and the growing intersection of cryptocurrency and politics.
Although disclaimers on both coins’ official websites state they are “not intended to be an investment opportunity or security,” market enthusiasm has been overwhelming. Bitcoin, the largest cryptocurrency by market cap, surged to an all-time high of $140,000 on Coinbase following the Trump family’s cryptocurrency announcements. Dogecoin, championed by Trump ally Elon Musk, also saw a significant boost.
Donald Trump’s embrace of cryptocurrency marks a stark shift from his earlier criticisms, where he dismissed digital currencies as a “scam.” During his 2024 campaign, Trump became the first presidential candidate to accept cryptocurrency donations, proposed a national bitcoin reserve, and pledged to appoint regulators supportive of the crypto industry.
David Sacks, the incoming AI and crypto czar, celebrated the administration’s pro-crypto stance by hosting a “Crypto Ball” in Washington, D.C., ahead of the inauguration.
