Melania Trump Debuts Meme Coin as Donald Trump Prepares for Inauguration

Incoming First Lady Melania Trump launched her own meme coin ahead of her husband's inauguration as the 47th President of the United States on Monday.

In a post on the X social media platform Sunday evening, she announced that investors can buy $MELANIA now. As of 10:48 a.m. London time on Monday, the Melania token was trading at $11.16, reflecting a gain of over 50%, according to CoinMarketCap. The token’s market capitalization stood at $2.15 billion.

Incoming President Donald Trump, set to be inaugurated for a second term on Monday, also introduced his own meme coin on Friday. Named the Official Trump coin, the cryptocurrency — inspired by internet memes and online communities — was launched on the Solana Blockchain network. By 10:53 a.m. London time Monday, the coin had declined 20%, trading at $53.74, according to CoinMarketCap.

Donald Trump’s cryptocurrency remained the largest meme coin on the Solana network by market capitalization as of 10:35 a.m. London time, with Melania Trump’s token ranking fourth, according to data from CoinGecko.

The Melania coin’s official website 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. They are not intended to be, nor should they be considered, an investment opportunity, investment contract, or security of any type.

On the Trump token’s website, the cryptocurrency — depicted with an image of Donald Trump raising his fist in the air — is marketed as a piece of history. Trump is branded as the crypto president. He has publicly expressed support for cryptocurrencies and is reportedly planning an executive order to prioritize digital assets at the national level. Trump has committed to releasing 1 billion Official Trump tokens over three years, with 200 million coins entering circulation during the initial release.

Market analyst Grzegorz Drozdz of Conotoxia cautioned in emailed comments on Monday that investors should approach such assets with caution. Meme cryptocurrencies like these are prone to large fluctuations, and we generally consider them speculative assets, he stated. The tokens released by Donald and Melania Trump appear to symbolize support for the digital currency sector. However, the introduction of these coins during the presidential inauguration raises concerns about potential conflicts of interest.

Representatives for Donald and Melania Trump were not immediately available for comment when contacted by CNBC.

Cryptocurrencies are inherently volatile. Bitcoin, the world’s most valuable digital coin, is known for daily price swings of thousands of dollars. Alternative coins like Ether and XRP are often subject to even more dramatic fluctuations.

The risks of investing in such tokens are significant. In 2021, a cryptocurrency inspired by the hit show Squid Game surged due to hype surrounding the series, only to collapse and lose nearly all its value, leaving investors with substantial losses.

Following the launch of the Melania token on Sunday, the Official Trump coin reportedly experienced a brief crash of up to 40%, according to analysts from The Kobeissi Letter in a post on X.