Melania Trump has announced the launch of her own cryptocurrency, $MELANIA.

The wife of the elected President of the USA, Melania Trump, announced the launch of her own cryptocurrency – $MELANIA – on the evening of January 19.

She wrote about it on social media platform X.

“The official Melania meme is now live! You can purchase $MELANIA right now,” the wife of the elected President of the USA stated.

Later, the newly elected President of the USA, Donald Trump, reposted her message on his account, which has over 98 million followers.

On the meme coin's website, it is stated that this crypto asset is created and tracked on the Solana blockchain. It also mentions that the currency is not intended to be an investment opportunity or security.

According to Hindustan Times, the meme coin surged rapidly since its launch, reaching a market capitalization of $14 billion, making the coin one of the top 20 cryptocurrencies by market cap. However, the excitement was short-lived, as the debut of Melania's coin caused Donald Trump's coin to plummet nearly 40% in value within minutes, the publication notes.

According to CoinMarketCap, the price of the $MELANIA coin is approximately $12.27, while the price of the $TRUMP meme coin reaches $60.32.

Background. Earlier, Mind reported that days before the inauguration, Donald Trump announced on social media – on his accounts on X and Truth Social – the launch of the official meme coin $TRUMP. The posts included a link leading to the Trump Meme website, where the asset can be purchased. Currently, 200 million coins are available, with plans to reach 1 billion coins over the next three years.