Melania Trump, the incoming First Lady, has launched a new cryptocurrency called $MELANIA, coinciding with her husband’s upcoming inauguration as the 45th President of the United States. This announcement follows the debut of the $Trump cryptocurrency, which has experienced considerable volatility but has also seen notable price increases.

On Sunday, Melania Trump shared on social media: “The Official Melania Meme is live! You can buy $MELANIA now.” The cryptocurrency, identified as the “Official Melania Meme,” operates on the Solana blockchain.

Both the $Trump and $Melania cryptocurrencies carry disclaimers on their websites, clarifying that they are not designed as investment vehicles or securities.

As of recent data from CoinMarketCap, the $Trump cryptocurrency has a market value of approximately $12 billion, while $Melania is valued at around $1.7 billion.

While Donald Trump had previously criticized cryptocurrencies as a “scam,” his stance evolved during the 2024 election campaign. He became the first major presidential candidate to accept digital asset donations and expressed intentions to create a strategic bitcoin reserve. Trump also indicated plans to appoint regulators who would adopt a more favorable approach to cryptocurrencies, fueling speculation that he might ease regulations on the sector.

Following his electoral win, Bitcoin surged to new heights, reaching an all-time high of approximately $107,000, according to data from crypto platform Coinbase.

In Washington, DC, a “Crypto Ball” event was hosted by David Sacks, the incoming AI and crypto advisor, which further highlighted the growing prominence of digital assets. Other cryptocurrencies, including Dogecoin, have also seen significant gains, partly driven by endorsements from figures like Elon Musk, a prominent Trump supporter.

Under President Joe Biden’s administration, however, there has been increased regulatory scrutiny of the crypto industry, with a focus on fraud prevention and money laundering, leading to legal actions against several crypto exchanges.