The Trumps have taken presidential commemorative coins into a new dimension with their latest foray into crypto.
It used to be that a long-serving or outstanding former leader of the free world would see their likeness minted in gold to commemorate their tenure - after leaving office.
Over the weekend, the Trumps decided to dispense with these formalities ahead of The Don's inauguration.
Incoming US First Lady Melania launched her cryptocurrency, $Melania, shortly after the President-elect unveiled the $Trump meme coin.
Melania's move briefly caused $Trump’s price to plummet by over 50%, from $75 to $30, though it later recovered to around $64.
$Trump debuted with a market capitalisation exceeding $14 billion and quickly ranked among the top 20 cryptocurrencies, with demand drawing liquidity from the wider crypto market.
Melania’s coin, $Melania, reached a $13 billion valuation shortly after launch, further shaking the market.
Meme coins, often inspired by internet trends, are highly volatile and lack inherent utility.
Critics have raised concerns about conflicts of interest, as Trump has previously profited from crypto ventures. However, supporters view the tokens as symbolic of Trump’s crypto-friendly stance and regulatory promises.
Both tokens’ websites state they are for entertainment, not investment purposes.