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Melania Trump unexpectedly gives Donald Trump run for his money with ‘insane’ launch right before he’s sworn in as president

Home> News> Politics

Updated 11:18 20 Jan 2025 GMTPublished 11:00 20 Jan 2025 GMT

Melania Trump unexpectedly gives Donald Trump run for his money with ‘insane’ launch right before he’s sworn in as president

The announcement came the day before Donald Trump's inauguration ceremony on Monday (20 January)

Rhiannon Ingle

Rhiannon Ingle

Melania Trump unexpectedly gave Donald Trump a run for his money with an 'insane' launch right before being officially sworn in as president.

Last Friday (17 January), an 'official' Donald Trump meme coin, $Trump, was announced and shortly broke into the crypto top 20 by market capitalisation and hit a staggering $14 billion.

Trump posted on social media as his token launched: "It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW."

What is cryptocurrency?

Cryptocurrency, or just 'crypto', is a digital currency that uses cryptography to allow people to make secure payments without a central bank or government.

Cryptocurrencies, like Bitcoin, are stored electronically and exchanged using computer code.

What are meme coins?

A meme coin is a type of cryptocurrency.

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Described by traders as 'pure form of gambling' and akin to 'buying a lottery ticket', the coins are inspired by trends such as internet memes.

They have no inherent utility and often find themselves susceptible to crashes and price swings.

Examples of meme coins include Dogecoin (DOGE), Hawk Tuah and Pepe.

Both Donald and Melania Trump launched meme coins over the weekend (Andrew Harnik/Getty Images)
Both Donald and Melania Trump launched meme coins over the weekend (Andrew Harnik/Getty Images)

How do people buy meme coins?

To buy a meme coin, you need to create an account on the Binance website or the app which is a centralised exchange where you can buy several cryptocurrencies.

How much does the Trump meme coin cost?

Now, the Trump coin initially sold for $10 before surging to $70 by Sunday morning (19 January), giving it a total value of over $14 billion shortly after its launch on Friday.

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According to the meme coin’s website, Trump-owned company, CIC Digital LLC, will own 80 percent of the coin’s supply.

Melania's rival meme coin had a direct impact on the sells of Trump's (Michael M. Santiago/Getty Images)
Melania's rival meme coin had a direct impact on the sells of Trump's (Michael M. Santiago/Getty Images)

How did Melania's rival meme coin affect Trump's?

Just days after Trump announced his meme coin, Melania, on the eve before her husband's inauguration, launched her own rival cryptocurrency.

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The incoming First Lady of the United States took to X yesterday (19 January) to announce the news, writing: "The Official Melania Meme is live!

"You can buy $MELANIA now."

Shortly after the launch of $Melania, the price of $Trump fell by more than 50 percent, from $75 to $30.

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It then recovered hours later to about $64 with the market capitalisation of $Melania reaching as high as $13 billion, per the Guardian.

"This is beyond insane," analysts at The Kobeissi Letter wrote on X. "Less than 48 hours ago, Donald Trump launched $trump which just erased $7.5 billion in market cap in 10 minutes.

"In the minutes around the launch of Melania Trump's token, we saw massive sell orders in $Trump."

How much does the Melania meme coin cost?

According to Binance, at the time of writing, the live price of the Melania meme coin is $11.98.

Featured Image Credit: Andrew Harnik/Getty Images / Michael M. Santiago/Getty Images

Topics: US News, Politics, McDonalds, Money, Technology

Rhiannon Ingle
Rhiannon Ingle

Rhiannon Ingle is a Senior Journalist at Tyla, specialising in TV, film, travel, and culture. A graduate of the University of Manchester with a degree in English Literature, she honed her editorial skills as the Lifestyle Editor of The Mancunian, the UK’s largest student newspaper. With a keen eye for storytelling, Rhiannon brings fresh perspectives to her writing, blending critical insight with an engaging style. Her work captures the intersection of entertainment and real-world experiences.

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