Incoming first lady Melania Trump has launched her own cryptocurrency on the eve of her husband, President-elect Donald Trump, being inaugurated and days after he announced his own memecoin.

Melania Trump launched a meme coin on the eve of her husband’s inauguration — causing his own new cryptocurrency to briefly tank amid a buying frenzy. The incoming first lady dropped news of the cryptocurrency — “$MELANIA” — on Sunday night — just days after her husband, President-elect Donald Trump, revealed his own newly created $TRUMP coin.

Donald Trump’s launch of his meme coin — coupled with low public understanding of crypto assets — could lead to financial losses from risky and speculative investments.

Donald Trump launched $TRUMP cryptocurrency, a meme coin, days before his inauguration. It quickly reached over $32 billion in value. Melania has now launched her own.

Hours before the second inauguration of president-elect Donald Trump, incoming first lady Melania Trump has launched her own cryptocurrency. “The Official Melania Meme is live! You can buy $MELANIA now,” Ms Trump posted on X in the early hours of Monday.

Meme coins, which often start as jokes with no real value, are volatile cryptocurrencies that can skyrocket in price if enough people are willing to buy them.

President Donald Trump’s inaugural committee received millions of dollars in donations from firms in the cryptocurrency industry that’s already seeing special attention from his administration, disclosures filed with the Senate Office of Public Records show.

The launch of the Trump token, which hit a $15 billion valuation, rides the trend and raises questions. Axios reporter Brady Dale explains what a meme coin is and what owners can actually do with them.