Melania Trump flipped a coin on the eve of her husband’s inauguration, causing a brief collapse of her own new cryptocurrency amid a buying frenzy.
The new first lady announced the cryptocurrency news – “$MELANIA” – on Sunday evening just days after her husband, President-elect Donald Trump, revealed his own newly minted $TRUMP coin.
“The official Melania meme is live! You can buy $MELANIA now,” she said in an article on X.
The coin was trading at around $12.03, with a market cap of $1.9 billion, as of early Monday, according to CoinMarketCap.
Shortly after the launch of the Melania token, the president-elect’s coin briefly crashed by as much as 40%, analysts at The Kobeissi Letter reported.
“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 kind,” according to its website.
Meanwhile, Trump’s cryptocurrency, which sparked a buying frenzy that saw the token skyrocket more than 300% in its first hours, rallied on Monday to nearly $12 billion in market value, attracting billions in trading volume just hours before its inauguration day festivities. gets underway.
Trump’s coin jumped to $58.56 early Monday, giving it a market capitalization of about $11.7 billion, according to CoinMarketCap, which ranks it the 18th largest cryptocurrency. Its 24-hour trading volume reached $52.5 billion.
The Trumps’ latest venture is the latest in a series of products released by the Trump Organization in recent months, which also sells Trump-branded sneakers, perfume, Bibles and digital trading cards.
With post wires
