Melania Joins Crypto Craze, Launches $Melania Coin, Impacting $Trump Token’s Soaring Value
The incoming U.S. first lady, Melania Trump, has stepped into the cryptocurrency arena, following her husband Donald Trump’s lead by launching her own multibillion-dollar meme coin. Her move briefly caused a dip in the value of the president-elect’s token, $Trump. The $Trump token had surged to over $70 per unit, tripling in value and reaching a market capitalization exceeding $14 billion shortly after its launch on Friday (January 17). However, the debut of Melania’s coin, $Melania, caused a partial rollback in those gains. “It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW,” Trump, whose inauguration ceremony is scheduled for Monday 12 pm EST, posted on social media on Friday. The token swiftly entered the top 20 cryptocurrencies. Blockchain analysts noted that the sheer scale of the digital rush drained liquidity from the rest of the market, causing other coins to