Melania and Donald Trump Launch Meme Coins, Raising Concern In The Crypto Industry

21st Jan 2025
Melania and Donald Trump Launch Meme Coins, Raising Concern In The Crypto Industry

Taking to Truth Social on Friday, 17 January 2025, President Donald Trump announced the launch of his meme coin ($Trump). A few days after this announcement, Melania Trump also launched her meme coin. The announcement of the launch of the just sworn-in US first lady’s meme coin ($Melania) came on Sunday, 19 January 2025, and it currently rivals the $Trump meme coin.

Growing Concerns Over Melania Trump Meme Coin Launch

Norman Eisen, the ethics adviser for Barack Obama’s administration, has called this meme coin launched by the Trump family the “most profound conflict of interest.” According to Norman, both parties on the recent ‘presidential’ meme coin launch, Donald and Melania Trump, are out “seeking to gain” from the crypto industry.

After Trump’s victory during the November 2024 US election, the crypto space saw a massive pump in some digital currencies. This pump was a result of claims that Donald Trump’s administration would pass bills in favour of the crypto industry.

On 20 January 2025, Bitcoin hit a new all-time high of $109,241, a 5% increase in its overall value. Other coins like Dogecoin and Ethereum also saw significant growth, at 5% and 3.5%, respectively.

After launching his meme coin, President Donald Trump encouraged buyers to “Join my very special Trump Community. GET YOUR $TRUMP NOW.” His wife, the First Lady of the US Melania Trump also made a similar move a few days after encouraging buyers via her official X page to “buy $MELANIA now”

https://twitter.com/MELANIATRUMP/status/1881094861279129643

The launch of $Melania took its rival meme coin $Trump down 50% and shortly reached a market cap of $13 billion. While this move is impressive, it is sparking concerns among some experts in the crypto industry.

Some argue that the performance of these meme coins is fuelled by the current political positions held by Donald and Melania Trump. Sam Baker, a UK-based meme coin trader, says that meme coins are “a pure form of gambling” he adds that meme coins are simply monetizing people’s attention from social media.”

What’s The Future Of $Melania And $Trump Meme coins?

Currently, $Trump holds 24 places on Coin Market Cap’s top 50 coin market cap list. As for the US First Lady’s meme coin $Melania, it currently ranks 98th on the Coin Market Cap list.

Analysts have pointed out that both $Trump and $Melania are set to earn both Donald and Melania Trump-owned firms some profit. MKT World LLC is the firm that markets $Melania and is owned by Melania Trump.

As for $Trump, CIC Digital LLC which is owned by Donald Trump will control 80% of the meme coin’s supply. The performance of both coins depends on their circulation within the crypto industry.

Both $Trump and $Melania coin websites have disclaimers advising buyers not to treat both coins as investment opportunities. However, most buyers of these coins are already treating both coins like investment opportunities, waiting for an official move from President Donald Trump regarding cryptocurrency.

Over the coming weeks, the future of these meme coins will become clear. Crypto investors still await an official statement from the Office of the 47th US President ushering in crypto-friendly regulations.

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