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

Topline 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—prompting concerns from crypto industry executives who worry that meme coins could harm the market. Key Facts Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you'll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here .

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

Further Reading Donald Trump Launches $TRUMP Meme Coin—Token Hits $9 Billion Market Cap (Forbes).