In brief
Both $Trump and $MELANIA coins are making waves in the volatile crypto market.
In a surprising move, Melania Trump has officially introduced her own cryptocurrency, the $MELANIA coin, right before her husband Donald Trump's inauguration as the President of the United States. This announcement comes closely following the debut of the $Trump cryptocurrency, which has already shown signs of volatility in trading. Melania shared the news on the social platform X, stating, "The Official Melania Meme is live! You can buy $MELANIA now."The $MELANIA coin is on the Solana blockchain, with its official website clarifying it is not intended as an investment or a security. Currently, CoinMarketCap lists $Trump with an impressive market valuation of around $12 billion, while $MELANIA holds a smaller, yet notable, value at approximately $1.7 billion.Despite previous skepticism about cryptocurrencies, Donald Trump has pivoted during his 2024 campaign, becoming the first presidential candidate to embrace digital assets for donations and hinting at a strategic bitcoin stockpile. Following his victory, the price of bitcoin soared to a record high, with current trading around $107,000, as noted by Coinbase. The crypto buzz continues, with David Sacks, the incoming AI and crypto advisor, hosting a "Crypto Ball" in Washington, D.C. Meanwhile, other cryptocurrencies, including Elon Musk-backed dogecoin, are also experiencing significant growth in 2023.
