 "$Trump and $Melania: What are the meme coins launched by US President-elect and his wife?")
US President-elect Donald Trump and Melania Trump have entered the meme coin market, attracting massive attention.
On Monday, Melania Trump, soon to become the First Lady, launched her meme coin, $MELANIA.
Donald Trump, promising a crypto-friendly approach, introduced $TRUMP with the tagline, “It’s time to celebrate everything we stand for: WINNING!”
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Both coins have experienced a rise in value but continue to see volatile trading.
‘$MELANIA’ and ‘$TRUMP’ meme coins: What are they?
The website for the coin describes “Melania Memes” as “fungible crypto assets created and tracked on the Solana blockchain.”
The Official Melania Meme is live!
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
Notably, a meme coin is a type of cryptocurrency that typically originates from an internet meme or joke. For example, the name of the Department of Government Efficiency, or DOGE, which Trump appointed Elon Musk to co-lead, is a reference to Dogecoin, a meme coin Musk has supported in the past.
Meme coins are often named after popular figures, animals, or characters on social media. They are heavily influenced by internet memes, online trends, and pop culture. Like other cryptocurrencies, they are highly volatile and speculative.
They are a peculiar and risky part of the crypto industry, often beginning as jokes with no inherent value. However, they can see sudden price increases if enough people invest. This speculative nature makes them a target for scammers aiming to exploit unwary investors.
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Trump’s meme coin features an artistic depiction of him pumping his fist in the air, symbolising his strength after surviving an assassination attempt at a rally in July 2024. Melania Trump’s coin includes a black-and-white photograph of her.
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 $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
Although Trump previously criticised cryptocurrency as a “scam,” he later embraced it during his campaign, becoming the first presidential candidate to accept digital assets. His campaign allowed donors to contribute via Coinbase Commerce, The Hill reported.
In promoting his meme coin, Trump encouraged supporters to “Have Fun!” The website selling the coins states that they are intended as tokens of support rather than investment opportunities.
How do meme coins work?
Meme coins are built using blockchain technology, which ensures data storage and transaction transparency across a decentralised network. Tokens are represented as hexadecimal numbers stored within the blockchain, enabling seamless transactions.
The coins’ images are often based on internet memes, adding to their appeal among investors. Ownership of these tokens is secured by private keys.
Donald Trump has vowed to be a “crypto president,” with plans to introduce executive orders that ease regulatory hurdles and encourage broader adoption of digital assets.
‘$MELANIA’ vs ‘$TRUMP’
The launch of Melania Trump’s meme coin caused Trump’s coin to crash by approximately 40%, as traders shifted to invest in the new token, as per on-chain data.
Disclaimers on the websites for both $Trump and $Melania stated that the coins are not intended as investment opportunities or securities.
According to CoinMarketCap, the market value of $Trump stands at around $12 billion (£9.8 billion), while $Melania is valued at approximately $1.7 billion. Following the initial drop, Trump’s token recovered, trading at $41, while Melania’s coin surged to over $5, achieving a fully diluted market capitalisation of more than $5 billion, according to Forbes.
Early buyers of $Trump saw returns in triple digits since the coin’s release, though some traders missed out, believing Trump’s social media had been hacked.
Supporters of the Trump meme coin have hailed its release as a symbol of the incoming president’s alignment with the crypto industry, which they argue faced unfair scrutiny under the Biden administration. Trump’s promise of crypto-friendly policies includes appointing advocates of digital assets to key government positions.
Critics, however, warn that the Trump meme coin could open doors for undue influence. Former White House communications director Anthony Scaramucci expressed concerns on X, stating, “Now anyone in the world can essentially deposit money into the bank account of the President of the USA with a couple clicks.”
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Donald Trump’s inauguration
Donald Trump’s inauguration as the 47th president of the United States was set to be a grand and unconventional event but was moved indoors due to cold weather.
For the first time in US history, a president-elect is hosting foreign leaders during the transition of power, one of America’s most significant political traditions.
Trump extended invitations to leaders including Chinese President Xi Jinping, Argentine President Javier Milei, and Italian Premier Giorgia Meloni. Xi opted to send his vice president as his representative. No foreign heads of state have previously made official visits to the US for an inauguration.
This marks a major political comeback for Trump, who faced two impeachment trials, a felony conviction, two assassination attempts, and an indictment over alleged efforts to overturn his 2020 election loss. He becomes the first US president since the 19th century to regain the White House after losing it.
Trump has announced plans to pardon many of the over 1,500 individuals charged in connection with the January 6, 2021, Capitol attack, promising to act on this “on Day One.”
The inauguration ceremony is scheduled to begin at 10:30 PM (India time) on January 20, with Trump taking the oath of office 30 minutes later.
With inputs from agencies
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