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 first lady announced Sunday that she had launched her own memecoin.
“The Official Melania Meme is live!” she posted on X.
The token, which was launched on Solana, quickly achieved a total value of about $1.6 billion after its release, according to CoinGecko.
It’s now the 86th most valuable cryptocurrency in the world.
The Official Melania Meme is live!
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
You can buy $MELANIA now. https://t.co/mgSwtOQYnq
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/o2V9BQx2zG
Trump coin
The creation of Melania Trump’s memecoin follows the surprise launch of her husband’s own token on Friday.
Donald Trump’s coin quickly became the 21st most valuable cryptocurrency. It’s worth almost $11 billion, according to CoinGecko.
Despite the eye-popping numbers, crypto executives warned that Trump’s memecoin was a potential blight on the industry.
“A memecoin is a zero-sum lottery,” Balaji Srinivasan, a crypto investor and former CTO of Coinbase, said on X. “There is no wealth creation.”
Even Nic Carter, general partner at Castle Island Ventures and outspoken Trump supporter, wasn’t a fan.
“Call me old fashioned but I think presidents should focus on running the country and not launching scam tokens,” he said.
MKT World
This isn’t the incoming first lady’s first foray into crypto.
After her husband released gaudy NFT trading cards bearing his likeness, Melania launched her own digital collectibles in 2022 and 2024.
She owns MKT World LLC, which is involved in the “sale of NFTs,” according to Trump’s financial disclosures.
In 2023, MKT World notched between $1 million and $5 million in income. In 2024, Donald Trump didn’t list the income for his wife’s business.
MKT World is behind Melania Trump’s memecoin, according to the website’s terms and conditions.
Melania-nomics
There are currently only 150 million out of a total 1 billion Melania tokens in circulation, according to CoinGecko.
About 350 million tokens are designated for public distribution and Melania’s “community.” The other 650 million are for insiders.
At about $11 a memecoin, that puts tokens under Melania’s control worth billions — on paper.
The total value of anyone’s crypto holdings is notoriously difficult to value because the markets are often so illiquid.
In other words, the small number of buyers and sellers leads to volatile swings in a token’s price.
“Melania Memes are intended for collecting and entertainment purposes only,” reads the website for Melania’s memecoin. “They are not financial instruments or investments.”
Ben Weiss is DL News’ Dubai Correspondent. Got a tip? Email bweiss@dlnews.com.
