Cryptocurrency
Donald and Melania Trump Launch Competing Meme Coins Ahead of Inauguration
In an unexpected foray into cryptocurrency, President-elect Donald Trump and incoming First Lady Melania Trump have each launched their meme coins, sparking excitement, volatility, and intrigue in the digital currency market. The announcement, made just days before Trump’s inauguration, has underscored the couple’s savvy in leveraging cultural trends for engagement, albeit with a competitive twist.
The Meme Coin Rollout
Donald Trump announced his cryptocurrency, $TRUMP, on Friday via social media platform X, calling it a celebration of his brand and values. “My NEW Official Trump Meme is HERE!” Trump wrote. “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community.” The coin, trading on the Solana blockchain, soared in value shortly after its debut, hitting over $70 by Sunday afternoon, according to CoinGecko.
My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
Two days later, Melania Trump entered the meme coin market with her own cryptocurrency, $MELANIA, which she unveiled in a Sunday X post. “The Official Melania Meme is live! You can buy $MELANIA now,” she announced, directing followers to the coin’s website.
The launch of $MELANIA caused an immediate ripple effect, sending the value of $TRUMP plummeting to $40 before it partially recovered and stabilized around $60 by early Monday. Meanwhile, $MELANIA debuted more modestly, trading just above $12 as of the same time.
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What Are Meme Coins?
Meme coins are a highly volatile cryptocurrency inspired by internet culture or trends. While they lack intrinsic value, their prices fluctuate wildly based on hype and market sentiment. The $TRUMP and $MELANIA coins are positioned as more than just digital tokens; they are designed to engage with and reflect the personal brands of their creators. Both websites emphasize that the coins are not investments or securities but a form of community engagement.
Market and Political Implications
The $TRUMP coin boasts an impressive market capitalization of $13 billion, based on its 200 million circulating coins. Over the next three years, the total supply is expected to reach 1 billion coins, according to the coin’s official website. Meanwhile, 80% of the supply for both $TRUMP and $MELANIA is controlled by Trump-affiliated entities like CIC Digital and Fight Fight Fight LLC, with a three-year unlocking schedule to prevent immediate liquidation of holdings.
The political implications of these meme coins are nuanced. Although disclaimers on both websites state the coins are not politically affiliated, they serve as an extension of the Trumps’ brands and values. Additionally, the president-elect has recently shifted his stance on cryptocurrency. Once a vocal critic of Bitcoin, Trump addressed the crypto community at its largest convention in July 2024 and has since appointed pro-crypto figures like Howard Lutnick to his administration.
A New Frontier for Engagement
The launch of the meme coin highlights the Trumps’ ability to stay ahead of cultural and technological trends. By tapping into the cryptocurrency craze, they’ve created unique platforms for community engagement while simultaneously stirring upmarket excitement. As the inaugural date approaches, the fate of $TRUMP and $MELANIA will continue to unfold, offering a fascinating glimpse into how cryptocurrency can intersect with personal branding and political influence.
Whether these coins become lasting symbols or fleeting digital novelties, they underscore one undeniable fact: the Trumps remain adept at keeping the world watching.
