Melania Trump’s cryptocurrency, $MELANIA, has taken the digital world by storm, reaching a valuation of £1,400,000,000 within minutes of its launch.
In an announcement on X, Melania Trump posted, “The Official Melania Meme is live! You can buy $MELANIA now,” which attracted nearly 20,000 investors within the first hour on Sunday night, January 19.
Donald Trump’s own cryptocurrency, $TRUMP, debuted a day earlier and boasts a total market valuation of approximately $12 billion (£9.8 billion). Meanwhile, the $MELANIA coin has reached a valuation of around $1.7 billion.
According to its official website, the $MELANIA crypto coin aims to provide a means for supporters to “show support for and engagement with the values embodied by Melania”.
However, it’s essential to note that both the $TRUMP and $MELANIA coins’ websites feature disclaimers stating that they are “not intended to be, or the subject of” an investment opportunity.
The launch of the $MELANIA coin led to a sudden crash in the value of the $TRUMP coin, resulting in billions being wiped off its market price.
However, it has since recovered some of its losses.
