First lady-to-be Melania Trump has launched a new cryptocurrency just hours before her husband, President-elect Donald Trump, is sworn in as the next president.
Melania launched the "Melania Coin" on January 19, the day before she will return to the White House along with Trump on Monday afternoon.
Newsweek contacted the Trump transition team for comment on this story via email.
What is the Melania Trump meme coin?
On Sunday, Melania posted to social media platform X (formerly Twitter) saying that, "the Official Melania Meme is live! You can buy $MELANIA now."
The coin is a cryptocurrency that provides memes to buyers in support of Melania Trump.
The currency's official site describes the coin as, "digital collectibles intended to function as an expression of support for and engagement with the values embodied by the symbol MELANIA."
How can I buy the new Melania coin?
The new coin is available on Melania Trump's website. It trades as $MELANIA, and uses the token address FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P.
Is the Melania crypto a good investment?
The coin's website explicitly says that it should not be used as an investment opportunity of any kind, with a disclaimer saying: "The associated artwork, is not intended to be, or to be the subject of, an investment opportunity, investment contract, or security of any type."
Additionally, cryptocurrencies associated with particular celebrities have a history of volatility, as seen in the crash of Haliey Welch's "Hawk Tuah" coin.
What is the latest with the other Trump meme coin?
Donald Trump's own cryptocurrency also launched over the weekend, with the incoming president announcing $TRUMP on Friday.
"My NEW Official Trump Meme is HERE! It's time to celebrate everything we stand for: WINNING!" Trump wrote on Truth Social.
As of Saturday afternoon, the coin was valued at $5.5 billion, according to cryptocurrency site CoinMarketCap.com.
How does the Melania token compare to Bitcoin?
Bitcoin is currently trading at an all-time high right now, after a significant boost following Trump's win in the 2024 general election. On Friday, Bitcoin's price rose above $100,000, up from $20,000 this time two years ago.
Trump's new government will be the first in U.S. history to have a dedicated "crypto tzar" in the form of David Sacks, which has led many enthusiasts to believe Trump's second administration will be significantly more crypto-friendly than his first.
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