Melania Trump launches her own memecoin: capitalisation rises to $11B in few hours
Melania Trump’s meme coin MELANIA surges past $11 billion market cap
Former First Lady Melania Trump has made headlines with the launch of her meme coin, MELANIA, just days after her husband introduced the TRUMP token.
The move has drawn both enthusiasm and skepticism, with MELANIA’s valuation soaring past $11 billion shortly after launch.
TRUMP Token Falters as MELANIA Gains Momentum
Melania Trump announced the debut of MELANIA on January 20 via social media platform X. The coin quickly reached $11.5 in value, achieving a staggering $11 billion market capitalization, according to Dexscreener. However, the launch overshadowed the earlier success of TRUMP, a token unveiled by Donald Trump on January 18.
The TRUMP token initially hit a market cap of $15 billion but saw a sharp decline to $49.29 per token following MELANIA’s debut, erasing $5 billion in market value. The swift launches of both tokens have sparked speculation about their timing and strategic intent.
Legal and Ethical Concerns Arise
Analyst Zack Guzman suggested the rush to launch these tokens may be tied to legal considerations, noting the U.S. Constitution prohibits presidents from using their office for personal financial gain. “The Trumps might be preempting any legal scrutiny before Donald Trump’s inauguration,” Guzman remarked.
Despite disclaimers on MELANIA’s official website stating the coin is not an “investment opportunity” but an “expression of support,” concerns about the project’s legitimacy persist. Coinbase’s Conor Grogan dismissed fears of a potential scam, asserting, “This doesn’t look like a rug pull, but the execution seems amateur compared to TRUMP’s launch.”
Community Reactions and Backlash
The crypto community has voiced mixed opinions. Some see the launches as innovative, while others question their motives and execution. Messari founder Ryan Selkis criticized the MELANIA project team, stating, “They cost you a lot of money and goodwill. They don’t have your interests in mind.”
Users like Guzman also reported transaction issues on decentralized exchanges like Raydium, fueling concerns about the reliability of these meme coins.
Future Implications
The Trumps’ venture into the volatile meme coin market has amplified both interest and scrutiny in the space. As the tokens continue to fluctuate in value, questions about their purpose and potential long-term impact remain unanswered. The rapid rise of MELANIA and the corresponding dip in TRUMP have left the market on edge, with the Trumps’ next moves being closely watched by investors and critics alike.
Recently we wrote, that rapper Snoop Dogg faced a wave of criticism after headlining Donald Trump's cryptocurrency-themed party, Crypto Ball.
