What is the MELANIA memecoin
The US first lady, Melania Trump, launched a memecoin to create an engaging digital collectible just before her husband, Donald Trump, took over as the US president. This launch came on the heels of a similar memecoin launch by Trump himself.
Announcing the news, Melania posted on social platform X, “The Official Melania Meme is live! You can buy $MELANIA now.” On Jan. 19, her post was also shared by Donald Trump.
According to melaniameme.com, the official Melania meme website, the memecoin will be created and tracked on the Solana blockchain. MKT World, a Florida-based company founded by Melania Trump in 2021, distributes the token on the Solana blockchain platform.
The websites of both the TRUMP and MELANIA memecoins have disclaimers mentioning the coins are “not intended to be, or the subject of” an investment opportunity or security. The “Terms and Conditions” section of the MELANIA official website states that Melania memecoins are digital collectibles, not investments. The memecoins are a way to show your support for the values these memecoins represent.
This means owning the MELANIA memecoin doesn’t offer you a security or investment opportunity. The official website categorically states that the MELANIA memecoin isn’t affiliated with any political campaign, office or government agency.
Memecoins are a different kind of cryptocurrency, drawing inspiration from internet memes, including fleeting trends, people or animals that capture online attention. Unlike established cryptocurrencies like Bitcoin (BTC), their value depends entirely on social media buzz and community backing. Memecoins tend to be much more volatile than the usual cryptocurrencies, meaning their value can fluctuate wildly and unpredictably.
On Jan. 20, the market cap of MELANIA was $2.13 billion, while TRUMP stood at 10.9 billion, according to CoinMarketCap. On this date, at the given time, TRUMP was trading at $54.87, down 17.2% compared to the previous day. This was the aftereffect of the launch of MELANIA. DEXScreener data suggested that…
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