In a post on social networking site
Mrs. Melania and Mr. Donald Trump watched fireworks in Virginia on January 18
Memes are images, videos or sayings that are highly viral on the internet. In the field of cryptocurrency, a meme coin is a piece of digital art or a shared cultural moment. The symbol of the MELANIA meme coin is the image of Mrs. Trump, created for collection and entertainment purposes.
This coin was created on the Solana blockchain network because of its fast transaction speed, low costs, and strong security. Mr. Trump’s wife noted that this type of meme coin is not a financial or investment tool.
CNBC cited data from the site CoinMarketCap said that as of the afternoon of January 20, the MELANIA coin was trading at a value of 11.16 USD, an increase of more than 50%. The market capitalization of this coin is 2.15 billion USD.
Previously, Mr. Trump also launched his meme coin called “Official Trump” on January 17 with an image of him raising his fist and the three words “Fight”. By January 20, the value of the currency decreased by 20%, trading at 53.74 USD. According to Reuters, at one point, Mr. Trump’s meme coin increased in price to 74.59 USD, the total transaction value in 24 hours reached 52.5 billion USD.
At least 200 million of these coins have circulated and Mr. Trump promised to release 1 billion Official Trump coins in the next 3 years.
Experts warn investors to be cautious when buying assets like the Trump family’s digital currency. They argue that meme digital currencies often fluctuate widely in value and are considered speculative tools. Mr. Trump and his wife’s coins are said to be a way to show support for the digital currency field. After the MELANIA coin was launched, the value of the Official Trump coin dropped sharply by 40% in a short time.
