Melania Trump, the First Lady of the United States, launched her own meme coin, MELANIA, which surged to $13 and reached a market cap of over $3 billion within hours. It currently trades at around $11.65, down 14% from its peak. With a current market valuation of $3 billion, $MELANIA offers a glimpse into how decentralised platforms are increasingly leveraged for brand building. Hosted on the Solana blockchain, this launch mirrors the rising trend of public personalities using crypto assets to establish digital identities, rather than promoting investment opportunities. This move comes against the backdrop of the $TRUMP cryptocurrency launched by former president Donald Trump, which boasts a significantly higher market capitalisation of $11.7 billion. Both coins, however, come with disclaimers emphasising their non-investment nature, reflecting the ongoing debate about the purpose and legitimacy of celebrity-linked tokens in the digital economy. Cryptocurrencies as digital identities The $MELANIA cryptocurrency appears to prioritise personal branding over financial gains. Its website underscores that the token is not designed as an investment vehicle or security, echoing a similar disclaimer made for $TRUMP. This strategy highlights a growing trend where tokens serve as extensions of personal or political campaigns, aiming to engage followers and amplify influence rather than deliver direct financial returns. Melania Trump’s foray into crypto also underscores the Solana blockchain’s increasing appeal. Known for its scalability and low transaction costs, Solana has positioned itself as a go-to platform for innovators aiming to create unique digital assets. $MELANIA’s market valuation remains modest compared to the broader crypto space, raising questions about the long-term viability of such niche tokens. Despite the disclaimers, the launch of $Melania coincides with heightened volatility in the crypto markets, further stoked by speculative trading and the broader appeal of decentralised finance. Such initiatives inevitably raise concerns about market manipulation, particularly when linked to high-profile personalities whose influence could disproportionately sway trading behaviour. A politically charged crypto landscape The launch of $Melania aligns with a significant shift in political discourse around cryptocurrencies. Donald Trump, who once dismissed crypto as a “scam,” reversed his stance during the 2024 presidential campaign. His pivot included proposals to build a strategic bitcoin reserve and overhaul crypto regulations to encourage innovation. This marked a stark departure from the stricter oversight seen under the Biden administration, which heavily scrutinised exchanges over fraud and money laundering risks. Trump’s pro-crypto agenda has coincided with a market rally, including bitcoin surging to $108,000, a record high driven by renewed optimism about regulatory reforms. This shift also reflects the broader impact of political sentiment on crypto adoption and regulation. Risks and future implications While the introduction of $MELANIA signals innovation, it also exposes risks inherent in celebrity-driven tokens. The disclaimers suggest caution, highlighting the potential for confusion among inexperienced investors who might mistake these assets for traditional investments. Regulatory scrutiny is likely to intensify as high-profile figures continue to adopt blockchain technologies. Furthermore, the divergence between $TRUMP and $MELANIA valuations underscores disparities in public interest and market confidence in such ventures. The Trump coin’s dominance may reflect its alignment with broader political narratives, whereas $Melania’s appeal appears limited to niche demographics. The post Melania Trump launches MELANIA meme coin, market cap hits $3B appeared first on Invezz
