Melania Trump launches $1.6bn memecoin on Solana after president-elect’s own token soars

Melania is the latest Trump to dive deeper into crypto.

The incoming archetypal woman announced Sunday that she had launched her ain memecoin.

“The Official Melania Meme is live!” she posted connected X.

The token, which was launched connected Solana, rapidly achieved a full worth of astir $1.6 cardinal aft its release, according to CoinGecko.

It’s present the 86th astir invaluable cryptocurrency successful the world.

Trump coin

The instauration of Melania Trump’s memecoin follows the astonishment launch of her husband’s ain token connected Friday.

Donald Trump’s coin rapidly became the 21st astir invaluable cryptocurrency. It’s worthy astir $11 billion, according to CoinGecko.

Despite the eye-popping numbers, crypto executives warned that Trump’s memecoin was a imaginable blight connected the industry.

“A memecoin is simply a zero-sum lottery,” Balaji Srinivasan, a crypto capitalist and erstwhile CTO of Coinbase, said connected X. “There is nary wealthiness creation.”

Even Nic Carter, wide spouse astatine Castle Island Ventures and outspoken Trump supporter, wasn’t a fan.

“Call maine aged fashioned but I deliberation presidents should absorption connected moving the state and not launching scam tokens,” helium said.

MKT World

This isn’t the incoming archetypal lady’s archetypal foray into crypto.

After her hubby released gaudy NFT trading cards bearing his likeness, Melania launched her ain digital collectibles successful 2022 and 2024.

She owns MKT World LLC, which is progressive successful the “sale of NFTs,” according to Trump’s fiscal disclosures.

In 2023, MKT World notched betwixt $1 cardinal and $5 cardinal successful income. In 2024, Donald Trump didn’t database the income for his wife’s business.

MKT World is down Melania Trump’s memecoin, according to the website’s terms and conditions.

Melania-nomics

There are presently lone 150 cardinal retired of a full 1 cardinal Melania tokens successful circulation, according to CoinGecko.

About 350 cardinal tokens are designated for nationalist organisation and Melania’s “community.” The different 650 cardinal are for insiders.

At astir $11 a memecoin, that puts tokens nether Melania’s power worthy billions — connected paper.

The full worth of anyone’s crypto holdings is notoriously hard to worth due to the fact that the markets are often truthful illiquid.

In different words, the tiny fig of buyers and sellers leads to volatile swings successful a token’s price.

“Melania Memes are intended for collecting and amusement purposes only,” reads the website for Melania’s memecoin. “They are not fiscal instruments oregon investments.”

Ben Weiss is DL News’ Dubai Correspondent. Got a tip? Email [email protected].