Melania Trump Launches $MELANIA Memecoin, $TRUMP Coin Falls Over 50% Before Inauguration

Jan 19, 2025, 09:31 PM

Former First Lady Melania Trump has announced the launch of her own cryptocurrency memecoin, $MELANIA, less than 24 hours before President-elect Donald Trump's inauguration. In a post on her official social media accounts, she stated, "The Official Melania Meme is live! You can buy $MELANIA now." President Trump has reposted the announcement on his accounts, including Truth Social and X (formerly Twitter). The introduction of $MELANIA has led to a sharp decline in the value of the existing $TRUMP memecoin. Reports indicate that $TRUMP's market capitalization fell by $7 billion in 60 seconds, with the price dropping from $75 to as low as $38, marking a decline of over 50%. Investors are reportedly shifting their funds from $TRUMP to $MELANIA, causing significant volatility in the cryptocurrency market. However, there are suspicions that Melania Trump's X account may have been compromised after promoting the launch of $MELANIA.