Donald and Melania Trump’s ‘meme coins’ shed billions in value as President is signed in

The newly launched $Trump and $Melania “meme coins”, backed by the US President and his wife, tanked spectacularly on the day of his inauguration.

US president-elect Donald Trump gives remarks alongside Melania Trump at a candlelight dinner at the National Building Museum on January 19. Picture: Getty Images

The $Trump and $Melania meme coins have dropped billions in value over the past day while US President Donald Trump was sworn in, leaving investors who got in at the top sitting on losses of up to 75 per cent.

The then president-elect Donald Trump launched a so-called “meme coin” - an essentially worthless cryptocurrency token - on Friday, closely followed by wife Melania launching her token early on Monday Australian time.

Both shot to valuations in the billions within a short period of time, however both have plunged in trading on Tuesday local time, with $Melania down 74.6 per cent on a 24 hour basis against its previous high of $US13.73.

The coin, which Melania’s website stresses has no inherent value and should not be treated as an investment, is now changing hands for $US3.46.

The $Trump coin is trading at $US31.18, down nearly 37 per cent on a 24 hour basis, and well off the top of $US75.35 it hit on January 19.

The $Trump coin’s market value remain at $US31.4bn according to CoinMarketCap, on a fully diluted basis.

The cryptocurrency data site says the value of $Trump coins in circulation is $US6.3bn, with $US25.8bn traded in the past 24 hours.

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

So-called meme coins are cryptocurrencies which have no inherent value, and in that mirror the short-lived non-fungible token (NFT) craze.

Traders can make strong gains however, with $Melania trading in a range from $US6.62 to $US13.19 following its launch early on Monday.

Australian shock jock Kyle Sandilands said on Monday morning that he had tipped $10,000 into $Trump, and turned that into $700,000 over the weekend.

The website for the $Melania token insists it is not an investment.

“Melania memes are digital collectibles intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA and the associated artwork, and are not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type,’’ the website says.

“($Melania) is not political and has nothing to do with any political campaign or any political office or governmental agency.’’

US president-elect Donald Trump and his wife Melania Trump watch fireworks during a reception in his honour at Trump National Golf Club Washington DC in Sterling, Virginia, on January 18. Picture: AFP

Only 15 per cent of the coin’s stocks have been released for public distribution, with 35 per cent held back for “team vesting” and 20 per cent for “treasury”, indicating that at current prices, Ms Trump and the other backers of the coin, whoever they are, have currently made billions, at least on paper.

The Melania website makes it clear that $Melania is little more than an idea.

“A meme is a cultural element, typically an image, video, or phrase, that spreads rapidly through the internet, often adapted and reimagined by different users,’’ the website says.

“In crypto, meme tokens represent digital artwork and shared cultural moments.

“Melania Memes are fungible crypto assets created and tracked on the Solana blockchain.

“Melania Memes are intended for collecting and entertainment purposes only. They are not financial instruments or investments.

“Always do your own research and never invest more than you can afford to lose.’’

The $Trump coin is currently the highest trending coin on CoinMarketCap while $Melania is fifth.

Originally published as Donald and Melania Trump’s ‘meme coins’ shed billions in value as President is signed in