US First Lady-elect Melania Trump has launched her own cryptocurrency meme coin, $Melania, just days before her husband Donald Trump is set to return to the White House. The token’s value skyrocketed to over $13 billion shortly after its launch on Friday, but took a hit as investors flocked to rival coins.
The surge in $Trump’s price, which had tripled to over $70 earlier this week, was largely attributed to Donald Trump’s election victory in November and his planned deregulation of the cryptocurrency sector. The token broke into the top 20 cryptocurrencies, causing liquidity shifts that affected other coins.
However, Melania Trump’s launch appeared to have a similar effect on the market, leading some traders to sell $Trump for new targets. As a result, the price of $Melania reached as high as $13 billion in just a few hours.
Meme coins, inspired by internet trends and lacking inherent utility, are known for their price volatility. They often resemble “buying a lottery ticket” with no clear returns. Despite this, they can still generate significant revenue for companies behind them.
The launch of $Melania comes amid concerns over conflicts of interest, as Trump has promised to usher in crypto-friendly regulations and picked supporters for key government positions. Critics argue that Melania’s coin launch is a personal attempt to profit from her husband’s political office.
Source: https://www.theguardian.com/technology/2025/jan/20/donald-trump-meme-coin-price-melania-token