The First Lady’s cryptocurrency launch creates market turbulence, with both coins drawing significant investment and controversy.
January 20, 2025, Washington DC: In an unexpected turn of events, Melania Trump, wife of US President-elect Donald Trump, launched her own cryptocurrency, $MELANIA, early on January 20. The move caused a significant shake-up in the crypto market, temporarily slashing the value of her husband’s token, $TRUMP, by 50%.
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The announcement of $MELANIA came through Melania’s social media accounts as Donald Trump prepared to address a rally in Washington ahead of his inauguration. “The official Melania Meme is live! You can buy $MELANIA now,” she declared, prompting a frenzy among crypto enthusiasts and fans of the incoming First Lady.
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Impact on the Crypto Market
The launch of $MELANIA initially siphoned investments away from $TRUMP, resulting in its value dropping to $41 per token. However, the coin quickly rebounded and was trading at $47 with a market cap of $9.82 billion, marking an 83% recovery from the previous day. Meanwhile, $MELANIA soared by 3035.16%, reaching $0.1702 per token with a market cap of $7.31 million, according to CoinMarketCap data.
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At his rally, Donald Trump addressed the crypto buzz, describing the tokens as “investments” and praising the growth of Bitcoin and blockchain technology. “Bitcoin has shattered one record after another, and our own coins are drawing millions of investors,” Trump said.
Crypto and the Trumps
Trump’s own token, $TRUMP, launched days earlier, had already amassed nearly $13 billion in market value before $MELANIA’s debut. According to CoinGecko, Trump affiliates control 800 million tokens, in addition to the 200 million already released. This positions the tokens to potentially unlock a valuation of $51 billion.
Mixed Reactions
The launch of $MELANIA has drawn both praise and criticism. While supporters commend the entrepreneurial spirit of the Trump family, others raise ethical concerns over potential conflicts of interest. Critics argue that the Trumps’ significant influence in politics may skew the market and pose regulatory challenges.
Despite the divided opinions, both $TRUMP and $MELANIA coins have demonstrated significant market interest, with Trump promising crypto-friendly policies in his administration.
The moves by Donald and Melania Trump could signal a broader trend of influential figures leveraging blockchain technology, further solidifying cryptocurrency’s role in the global financial ecosystem.
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Trump coin, cryptocurrency, $TRUMP, Donald Trump, blockchain, Trump wealth, crypto market, pro-crypto policies, Solana blockchain, Melania Trump, financial strategy, meme coins, Trump administration, crypto regulation, US presidency