Here is the article:
Melania Trump Launches Own Meme Coin Ahead of Inauguration
Incoming first lady Melania Trump launched her own meme coin, just days before her husband’s second inauguration as president. The $MELANIA token is trading at $11.16, up more than 50% since its launch, according to data from CoinMarketCap. The coin has a market cap of $2.15 billion.
Trump’s cryptocurrency is not the first of its kind. His counterpart, Donald Trump, launched a meme coin earlier this month. The “Official Trump” coin was trading down 20% on Monday to $53.74, but was the largest meme coin on the Solana network by market cap earlier that day.
According to a disclaimer on the Melanian meme’s official website, the token “are digital collectibles intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type.”
Grzegorz Drozd, a market analyst at Conotoxia, warned investors to exercise caution when buying meme cryptocurrencies like the Trumps’ coins. “Meme cryptocurrencies like these are prone to large fluctuations and we generally consider them as speculative assets,” he said. “The introduction of these coins during the presidential inauguration raises concerns about potential conflicts of interest.”
Representatives for Donald and Melania Trump were unavailable for comment.
Cryptocurrencies can be highly volatile, and meme coins in particular are subject to large price fluctuations. Even established coins like Bitcoin can fluctuate wildly, and alternative coins like ether and XRP can be even more prone to movements.
