Melania Trump, the First Lady of the United States, has ventured into the cryptocurrency market with her own memecoin, MELANIA. The digital asset skyrocketed to $13, reaching a $2 billion market cap within hours of its launch, creating a buzz in the crypto community.
The announcement followed closely behind the unveiling of President Donald Trump’s memecoin, Official Trump (TRUMP), which also sparked a frenzy in the cryptocurrency space. In a social media post, Melania Trump stated that the launch of MELANIA was inspired by the growing interest in digital assets, fueled in part by her husband’s introduction of TRUMP.
The Official Melania Meme is live!
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
President Trump, through Truth Social, encouraged supporters to join his community, promoting his memecoin with a message of winning: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Get your $TRUMP NOW.”
The timing of both memecoin launches is significant, as Donald Trump prepares for his potential second term as the 47th President of the United States. The memecoins have stirred up heated discussions, with some cryptocurrency enthusiasts questioning their value. Critics argue that such memecoin initiatives may detract from projects that offer real utility in the blockchain space.
Nate Geraci, President of ETF Store, weighed in, saying, “Memecoin traders are well aware they’re playing crypto version of musical chairs. They’re not under some illusion they’re investing in Fortune 500 companies. They know it’s all greater fool theory. They also don’t view memecoins as legit ‘crypto projects’.”
PSA…
— Nate Geraci (@NateGeraci) January 20, 2025
Memecoin traders are *well aware* they’re playing crypto version of musical chairs.
They’re not under some illusion they’re investing in Fortune 500 companies.
They know it’s all greater fool theory.
They also don’t view memecoins as legit “crypto projects”.
Thank you.
As of the latest CoinGecko data, TRUMP was trading at $59.43, up 32.8% in the past 24 hours, while MELANIA surged 68.4% to $12.51. Despite their impressive performance, analysts, including AMBCrypto, suggest the rally may be short-lived, with potential for consolidation or a short-term pullback before any further gains.
The meteoric rise of MELANIA and TRUMP reflects the volatility and speculation-driven nature of memecoins, raising questions about their long-term sustainability.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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