Melania Trump Meme Coin Drops Below $1 in Value a Month After Launching: ‘Scammed By the First Family’
First Lady Melania Trump’s meme coin has dropped to less than $1 in value just one month after its launch.
The first lady released her cryptocurrency token days after President Donald Trump launched $TRUMP, which surged in value, exceeding a $72 billion market valuation within three days. However, like $MELANIA, it rapidly lost value. Today, $TRUMP stands at $13.35, per CoinMarketCap.
While the Trumps earned more than $100 million in trading fees when $TRUMP launched, more than 810,000 crypto wallets lost $2 billion, New York Times reported.
When $MELANIA first launched, it experienced much of the same success $TRUMP did. Each coin hit a nearly $10 valuation, nearing a $1.5 billion market cap.
Within days, however, $MELANIA dropped to a low of $3.50 and never recovered. On Tuesday, the meme coin nosedived, falling from $1.20 to $.90 at its lowest with a market cap of $513 million, CoinMarketCap reported.
Entrepreneur Brian Krassenstein pointed out on X Tuesday that anyone who invested $13,000 in $MELANIA has a balance of $990 today.
“Congratulations! You’ve been scammed by the First Family,” he added.
REMINDER: If you invested $13,000 in Melania Trump’s crypto scheme just a month ago, your balance is now $990.
Congratulations! You’ve been scammed by the First Family. pic.twitter.com/0Hyd3xvqsf
— Brian Krassenstein (@krassenstein) February 25, 2025
Another user added that anyone who bought and sold the coins within a few hours would have made a nice profit.
“The insiders made money. His average supports lost big,” Krassenstein clarified, to which the X user added that he made money despite hating Trump.
But if you sold it a few hours later it would have been the other way around
— nydoorman (@NYDoorman) February 25, 2025
Other social media users remained hopeful for anyone who invested in the meme coin.
“Reminder: you haven’t lost if you haven’t sold. If you sold anything right now, that’s on you,” @RyanMay02103594 wrote. “It is true they are sucking, but they are still active. I doubt they won’t try to figure the coins out down the road. If I’m wrong I’m wrong, but no one has lost who hasn’t sold.”
Reminder : you haven’t lost if you haven’t sold. If you sold anything right now, that’s on you.
It is true they are sucking, but they are still active. I doubt they won’t try to figure the coins out down the road. If I’m wrong I’m wrong, but no one has lost who hasn’t sold.
— Rtown79 (@RyanMay02103594) February 25, 2025
Argentinian President Javier Milei worked with the same team that launched the first lady’s meme coin. He is currently being sued for promoting $LIBRA, which, like $TRUMP and $MELANIA, surged and then crashed, but not before Milei and his team “cashed out $107 million.”
Originally published by Latin Times
