Days after the release of $ TRUMP, US President Donald Trump’s meme cryptocurrency, his wife First Lady Melania Trump has launched $MELANIA, her own digital token.
The back-to-back launches highlight growing political engagement with the cryptocurrency space, further fueled by Donald Trump’s evolving stance on digital assets.
Melania Trump announced her token, $MELANIA, via social media on Sunday (January 19), stating, “The Official Melania Meme is live! You can buy $MELANIA now.”
$MELANIA is a ‘fungible crypto asset’ created and tracked on the Solana blockchain. As mentioned, it was announced shortly after Donald Trump introduced $TRUMP on Truth Social.
Both coins have garnered significant attention in the cryptocurrency market, with Reuters reporting that $TRUMP achieved a market capitalization of over US$10 billion within days of its launch. Trading volume for the coin reached nearly US$40 billion in 24 hours, showcasing the speculative interest surrounding the asset.
A meme coin is a cryptocurrency derived from internet trends and memes, typically lacking practical utility and prone to significant price volatility. For example, a coin launched last month by Haliey Welch, known as the “Hawk Tuah girl” after her viral video discussing oral sex, experienced a sharp decline in value, dropping 95 percent from a US$500 million market capitalization to US$25 million shortly after its debut.
Traders often liken meme coins to ‘pure gambling’ or ‘purchasing a lottery ticket.’
Trump’s shifting stance on cryptocurrencies
Donald Trump’s entry into the cryptocurrency world marks a dramatic shift from his previous skepticism.
Once dismissing cryptocurrencies as a “scam,” the president has since adopted a more favorable stance.
In fact, his latest presidential campaign became the first in US history to accept cryptocurrency donations, facilitated through Coinbase Commerce. This has helped push cryptocurrencies into the spotlight.
The president has also proposed a US Bitcoin reserve, aiming to position the nation as a leader in digital finance.
Global conversations on Bitcoin reserves
The launch of the Trump coins coincides with a growing global conversation about Bitcoin as a strategic asset.
Governments and central banks, including those in Switzerland, Germany and Brazil, are exploring Bitcoin’s potential role in national reserves. Under Trump’s leadership, the US has joined the debate — ahead of his return to office, his administration has advocated for Bitcoin to be made a reserve asset.
Legislative actions and plans have already materialized to support cryptocurrency reserves for national adoption, with some US states joining the fray as well.
Meanwhile, in Switzerland, the Swiss National Bank is evaluating the inclusion of Bitcoin in its reserves alongside gold, with discussions of a public referendum to decide the matter.
In Germany, former Finance Minister Christian Lindner has proposed that the European Central Bank and Bundesbank reduce reliance on the US dollar by incorporating Bitcoin.
For its part, Brazil has introduced the Sovereign Strategic Bitcoin Reserve (RESBit), aiming to allocate a portion of its reserves to Bitcoin. Meanwhile, Russia has also embraced digital currencies as a means to bypass western sanctions, with companies using domestically mined Bitcoin for international trade.
Experts warn of meme coin volatility
While the launches of $TRUMP and $MELANIA have generated excitement, concerns remain about the speculative nature of meme coins. Analysts warn that such assets are prone to volatility and large price fluctuations.
In addition, the blending of cryptocurrencies into the political arena has raised questions about the implications for governance and regulation. Critics argue that these developments blur the lines between politics, profit and influence, calling for greater oversight.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.