It’s an insane few days for the Trump family: aside from incoming US President Donald Trump launching his own meme coin that was valued as high as $70, his wife Melania also has her own meme coin as well.
Aptly called $MELANIA, the meme coin of Trump’s wife entered the market yesterday (July 19) selling for pennies–and was trading for over $10 as of writing. In the official website, the Melania meme coin is described as “digital collectibles intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA. and the associated artwork.”
The launch of $MELANIA caused $Trump to crash by more than 45% before it was able to recover its value. According to reports, market capitalization for $MELANIA reached as high as $13 billion.
Just like Donald’s meme coin, there’s also a disclaimer that $MELANIA has a disclaimer stating that it is not intended to be an investment opportunity and it has nothing to do with anything political.
One of the promises with the incoming Trump administration is that it aims to be the most crypto-friendly president in history, vowing to reverse all the crackdown against cryptocurrencies that was implemented during the outgoing Biden administration.