The wife of the newly elected US President Donald Trump - Melania, followed suit by launching her own memecoin. The cryptocurrency of the elected American leader's wife was called $MELANIA, by analogy with the memecoin $TRUMP. According to CoinMarketCap, one memcoin Melania can now be purchased for 0.03 USD.
On Friday, Trump announced the launch of his cryptocurrency. During the day, the volume of trading in memecoins exceeded 11 billion USD, now the capitalization of the cryptocurrency exceeds 10.5 billion USD, and 1 $TRUMP is now trading at around 50 USD.
Earlier on Aug. Bloomberg reported that Trump plans to issue an executive order declaring the development of cryptocurrency a national priority for the United States. The inauguration of the politician will take place today.
Memcoins are a cryptocurrency that is created as a social experiment. Its price depends on the popularity of the phenomenon on the basis of which it was created. For example, memecoins such as politifi – a mix of the words politic (political) and finance (finance) – are created in support of a particular political figure. The price of a memecoin depends on the level of support for a policy. Cryptocurrencies of this format do not carry any value or use and are a speculative financial instrument.