The new first lady of the United States, Melania Trump’s coin, $Melania, reached $2 billion in walk cap, a few hours after its launch on the Solana platform early Monday. The official Melania token, launched as a digital collectible, was trading at around $12 with a 24-hour volume of $3.2 billion and a market cap of $2.2 billion at the time of filing. this report, according to data from Coinmarketcap.com.
Reflecting a broader trend in global crypto industry In a market where coins are linked to public figures or memes to attract attention and engagement, the value of the Melania coin surged shortly after its release, driven by hype and speculative exchanges.
Importantly, her introduction also impacted associated tokens, such as her husband’s new president. Donald TrumpThe meme coin, $TRUMP, fell 48%, from $74 at midnight on January 20 to $38 in the morning before recovering to $63 around 11 a.m. Market capitalization also fell from $14 billion to $7.6 billion. The coin was trading at $58 with a market cap of $11.6 billion at the time of filing this report.
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The interaction between the two tokens has further fueled discussions and interest within the cryptocurrency community, attracting a significant number of investors and keeping $Melania in the spotlight despite the disclaimer on the coin’s official website.
“Melania memes are digital collectibles intended to function as an expression of support and commitment to the values embodied by the MELANIA symbol. and associated works of art, and are not intended to be, or to be the subject of, an investment opportunity, investment contract or security of any type,” states the disclaimer.
The meme coin is currently available for purchase via debit card or crypto on the official website melaniameme.com.
Given the nature of meme coins, which are highly speculative and volatile, their value is often determined by hype, investor sentiment, and market speculation rather than fundamental value.
If demand for the Melania piece continues, prices will likely increase further based on the initial buzz. However, if it is unable to provide meaningful use cases or add value beyond its meme appeal, interest could wane.
The launch also holds significance as the US crypto market is undergoing a policy reversal aimed at legitimizing the industry under President Trump, as he is expected to make cryptocurrency a national priority. According to a Bloomberg report last week, Trump plans to issue an executive order making crypto a policy priority and guiding government agencies to work with the crypto industry.