When Donald Trump launched a memecoin the day before his inauguration, it was a dazzling success. When his wife reveals a similar memecoin, it raises concerns for the future. Should we hope for a memecoin for each member of the family? Do these initiatives not risk undermining the credibility of cryptocurrencies?
Melania Trump launches MELANIA memecoin
And there lies the drama. 48 hours after the launch of Donald Trump's meme corner, his wife, Melania Trump, also launched a meme corner.
The Official Melania Meme is live!
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
Faced with this success, other members of the family seem to want to exploit the trend. In less than 2 days, the price of the TRUMP memecoin reached a market capitalization of $14.7 billion and $73.6 billion in diluted capitalization (if all tokens were available). Knowing that the team behind the project has reserved a generous share of 80% of the tokens – or $58.8 billion – it is a successful operation.
💡 How to buy a memecoin?
This success gave ideas to other members of the Trump family. Two days after the launch of the TRUMP token, Melania Trump announced on her X account the launch of MELANIA, a meme coin on the Solana blockchain. In just a few hours, it had reached a capitalization of 12 billion dollarswith 89% of the tokens reserved, again, for the team.
JUST IN: 🇺🇸 The bubble map of $MELANIA does NOT match the distribution on their website pic.twitter.com/Q734sd4ykJ
— Bubblemaps (@bubblemaps) January 19, 2025
Two months ago, the United States still adopted Gary Gensler's strict stance on cryptocurrencies. Today, the presidential couple surprises by launching memecoins. The words “big gap” or “revolution” are weak to describe this change.
A detail overshadows this beautiful painting that cannot be overshadowed degen »: the domain name of Melania Trump's token site was purchased yesterday.
This detail shows that the launch of these tokens does not really respect a strategy put in place in advance. On the contrary, we can easily imagine the team behind the project, intoxicated by the success of TRUMP, which hastily launches a second memecoin.
This rushed launch has visibly destabilized the market. The new arrival, MELANIA, has raised questions. Additionally, following the launch of Melania Trump's memecoin, TRUMP token value collapsed by 50%, from $70 to $35 in less than 30 minutesbefore returning close to $65 at the time of writing these lines.
Did investors sell TRUMP tokens to buy MELANIA, or were they disgusted and worried about what would happen next?
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An attack on the credibility of cryptocurrencies?
The first thing that Internet users thought of when they saw the announcement of the launch of the memecoin MELANIA, it was that the account of the first woman of the United States had been hacked and that the project was a scam.
But the post was retweeted by Donald Trump's account: it is therefore not a scam – in any case, not a scam made by hackers. It seems that this memecoin was indeed launched by the team of the wife of the President of the United States herself. Where is Gary Gensler when we need him?
Beyond the nervous laughter we all had seeing these two memecoins, what should we think of all this?
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Donald Trump's victory was synonymous with hope for the crypto community. The builders of Web3 had to face the worst slander campaigns so that this ecosystem was finally recognized for its true value.
This situation raises questions about the credibility of cryptocurrencies in the eyes of the general public and institutions. If influential figures use them as opportunistic tools, this could tarnish the image of this ecosystem with regulators and institutional investors.
Who will want a strategic crypto reserve for their country? The industry's greatest ambassador was Donald Trump, but he has just shot cryptocurrencies in the foot.
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Cryptocurrency expert, Marc-Antoine began his journey in Web 3 alongside David Prinçay (current president of Binance France) in the French Cryptocurrency Club. Since then, it is by writing articles in the best-known crypto media in France that he has spread the good word. If you've read an article about crypto, there's a good chance you've read one of his articles. NFT, Blockchain, Web 3, DeFi, there is not a sector that is foreign to it. And don't ask him what the next coin to buy is: it's a maximalist Bitcoin (yes, no one is perfect).
Marc-Antoine Caen Poletti
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