Melania Trump’s $MELANIA Meme Coin Debut Sparks Backlash and Tanks Donald Trump’s $TRUMP Coin by 40%
Melania Trump & Donald Trump walk off the stage after a campaign rally at Madison Square Garden on October 27, 2024, in NYC. (Image Source: Getty Images| Photo by Michael M. Santiago)
Melania Trump introduced her own cryptocurrency, a “meme coin” named $MELANIA, on Sunday, causing a sharp decline in the value of her husband Donald Trump’s $TRUMP coin.
The announcement, made on Melania’s Truth Social account, was quickly amplified by Donald Trump himself. According to Coinbase, meme coins are cryptocurrencies inspired by internet memes or trends, often driven by hype rather than intrinsic value.
“The Official Melania Meme is live!” Melania’s account stated. “You can buy $MELANIA now.” The launch triggered an immediate financial impact. The Kobeissi Letter reported that Donald Trump’s $TRUMP coin crashed by over 40% following the release of Melania’s coin. “This is beyond insane,” the publication commented.
Critics from across the political spectrum weighed in on the unusual rollout. Heath Mayo, a conservative critic of Trump, described the situation as “such a scam.” He added, “Can’t believe we just elected these jokers. It’s like we gave a recovering alcoholic access to the liquor cabinet—and he hasn’t even been sworn in yet.
The result is going to be terrible for our country and many good people who believe in all this will suffer.” Anthony Scaramucci, a former Trump administration official, also reacted with disbelief. “Launch of Melania coin is causing Trump coin to crash,” he said.
Scaramucci went on to joke, “Elon was right, we are living in a simulation. Which one of the kids’ coins will perform best? The day before the inauguration as [the] leader of the free world and this is what Trump is focused on. Tells you everything you need to know.”
The timing of the coin’s launch—just ahead of Donald Trump’s inauguration—has added to the scrutiny. While the $MELANIA coin is marketed as a lighthearted financial tool, its introduction alongside the crash of $TRUMP has fueled criticism over the priorities of the incoming administration.
As the cryptocurrency market reacts to the launch, the Trump family’s ventures into meme coins are drawing both financial skepticism and political ridicule, raising questions about their long-term implications for supporters and investors.
