What To Know About Melania Trump’s New Meme Coin As Market Cap Crosses $2 Billion

Incoming First Lady Melania Trump on Sunday announced the launch of a meme coin that trades on the Solana blockchain platform, causing a sharp dip in the price of a similar meme coin launched two days ago by her husband—President-elect Donald Trump—and prompting concerns from crypto executives who worry meme coins could harm the market.

Incoming First Lady Melania Trump launched her meme coin on Sunday.

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Key Facts

The incoming first lady announced the launch of the “Official Melania Meme” or $MELANIA token on Sunday afternoon and shared a link to a website to purchase the coins.

Early on Monday morning, the $MELANIA token was trading at around $11.22 with a market cap of $2.15 billion.

According to CoinMarketCap’s tracker, $MELANIA’s market cap makes it one of the top 60 most valuable cryptocurrencies in the world.

The token is being distributed on the Solana blockchain platform by MKT World, a Florida company incorporated by Melania Trump in 2021.

Details about the coin are limited but the website notes that the incoming first lady’s team has reserved 35% of the token’s supply—which will remain locked for the first 30 days.

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What Other Details Do We Know About $melania?

The meme coin purchase link shared by Melania Trump includes a disclaimer stating that the tokens are “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 note then adds that the meme coins are not intended to be “an investment opportunity, investment contract, or security of any type.”

How Did $melania’s Launch Affect $trump?

Shortly after the meme coin’s launch, the price of the OFFICIAL TRUMP token or $TRUMP—the meme coin launched by her husband on Friday—tanked nearly 40% to around $35. The president-elect launched the $TRUMP on Friday and its market cap peaked at around $15 billion on Sunday, but the volatile asset’s market cap dropped below $8 billion after MELANIA’s launch. However, the cryptocurrency was able to pare back its losses early on Monday after investment app Robinhood announced the token was “now available to trade” on its platform. As of early Monday morning, the price of $TRUMP stands at $53.12 which equates to a market cap of $10.62 billion. This makes $TRUMP the 18th most valuable crypto token by market cap.

What Do We Know About $trump?

The president-elect announced the launch of his meme coin in a Truth Social post on Friday night, which said: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” The token rallied sharply overnight and its price had more than tripled by Saturday morning. Early on Sunday, the token’s price briefly breached $75. The coin’s website says 200 million tokens were made available at launch and overall supply will slowly grow to a billion tokens over the next three years. The 800 million tokens that have not been publicly released are currently being held by Trump Organization affiliate CIC Digital LLC and Fight Fight Fight LLC—which was incorporated in Delaware on January 7.

Big Number

450,653. That is the total number of crypto wallets which hold $MELANIA as of Monday morning, according to the Solscan tracker.

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