Donald Trump’s Meme Coin Tanks As Melania’s Crypto Enters The Market – News18

Last Updated:January 20, 2025, 09:21 IST

Three days after the launch of Donald Trump’s meme coin, his wife, Melania Trump, introduced her own rival meme coin.

Donald Trump’s official meme coin $TRUMP, which he launched on January 17, has plummeted nearly 40 per cent after his wife and soon-to-be First Lady, Melania Trump, launched her own meme coin early today January 20 (late Sunday US time).

Announcing the launch of her meme coin, Melania wrote on X (formerly known as Twitter), “The Official Melania Meme is live! You can buy $MELANIA now.” She also shared a link to a website selling the cryptocurrency.

According to a report by Forbes, Trump’s meme coin, $TRUMP, was ranked among the top 20 cryptocurrencies by market capitalisation, reaching an impressive $14 million.

However, hours before Trump’s oath, the launch of Melania Trump’s cryptocurrency, $MELANIA, sent the value of Trump’s coin into a sharp decline.

As people rushed to buy Melania’s meme coin, it pushed its value to over $7.41, giving it a fully diluted market capitalisation exceeding $5 billion. Both Melania’s and Trump’s coins are built on the Solana network.

According to CoinMarketCap, Trump’s meme coin initially launched at $0.18, has risen significantly to $44.08, while Melania’s coin currently stands at $7.41.

As per the official website of the crypto, 80 per cent of Trump’s meme coin is held by Trump Organisation affiliate CIC Digital, and Fight Fight Fight – an entity co-owned by CIC Digital.

(This is a developing story)