First Trump, Then Melania: How Presidential Meme Coins Shock Investors
After Donald Trump’s NFT projects made headlines, his wife Melania is now also involved in related matters. The Melania token experienced a brief surge followed by a crash, demonstrating the unpredictable dynamics of meme coins once again.
Last December, former US President Donald Trump made spectacular headlines, not so much due to political statements, but rather because he was peddling NFTs. Trading cards with caricature depictions of himself, priced between $500 and $1,000, were launched by Trump and, while initially mocked, have continued to be traded on OpenSea. In the meantime, the former First Lady Melania Trump has also come to the fore as a name-giver for a cryptocurrency project. The token Melania was promoted on social media, and for a short time it seemed that investors were latching on to it en masse. However, a severe price breakdown soon followed, demonstrating a pattern observed many times before with meme coins.
This boom-and-bust cycle is reminiscent of the TrumpCoin, which had little to do with Donald Trump himself beyond the name. It was issued back in 2016 when candidates were just positioning themselves in the US primaries and was designed to generate attention and possibly funds for campaign purposes. TrumpCoin also saw temporary, stark price increases, but then largely lost relevance despite having a loyal fan base. Meanwhile, Donald Trump has consistently distanced himself from TrumpCoin and other cryptocurrency projects attributed to him, as evident in various media reports.
However, when it comes to NFTs and a potential TrumpCoin 2.0 related to his presidential candidacy in 2024, the former president has not made any definitive comments. The situation is even more unclear with the Melania token, as it appears to be primarily a project by meme coin fans, simply using the ex-First Lady’s name. As usual, there was no transparent business plan or meaningful roadmap, so potential investors were left to rely on mere speculation and marketing hopes. The sudden implosion of Melania, a cryptocurrency with no intrinsic value, serves once again as a warning that meme coins are primarily about entertainment and not reliable investments.
Those following the developments around Trump and the Melania token are currently assessing how political circles in the US will respond to the increasing interplay of celebrities and cryptocurrencies. As of now, no conclusive stances have been taken on whether this trend is considered positive or worrisome. For investors, however, it is clear that in the realm of meme coins, a lot of unpredictability remains, and spectacular profits are offset by commensurate risks of total loss.
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