The latest crypto craze has a distinctly presidential flavor. The $TRUMP and $MELANIA meme coins, launched just days before inauguration in January 2025, sent the crypto world into a frenzy, with billions of dollars flooding into these tokens within hours of their debut on the Solana blockchain.
Talk about a wild ride. $TRUMP shot up to nearly $75 per coin, while $MELANIA peaked at $13.76. Credit cards were maxing out as investors rushed to grab their slice of presidential crypto pie through various exchanges. The $TRUMP coin features Trump’s image and “FIGHT FIGHT FIGHT”.
But like most things in crypto, what goes up must come down – and down they went. $TRUMP initially dropped 45% from its peak, settling at $40, while $MELANIA now trades at a humble 49 cents. Two companies, CIC Digital LLC and Fight Fight Fight LLC, control an overwhelming 80% of the meme coin supply. Just like other high-risk investments, these presidential tokens show extreme price volatility that can lead to substantial losses.
But here’s where things get interesting – and maybe a tad questionable. The announcement of a private DC dinner for 220 top $TRUMP holders sent the token surging 45% again. Senator Chris Murphy didn’t mince words, calling it “the most brazenly corrupt thing a President has ever done.”
Accountable.US was equally unimpressed, describing it as an invitation for investors to “have a bidding war over who can buy the most access.”
Of course, both tokens’ websites are quick to clarify these aren’t investments – they’re just “expressions of support” and “digital collectibles.” Because nothing says support like volatile digital tokens worth billions.
The $TRUMP coin hit a market cap of $8.3 billion in January, with $MELANIA following at $1.2 billion.
This isn’t Trump‘s first crypto rodeo – he’d already released four series of NFT trading cards before diving into meme coins.
The whole thing has left traditional financial experts scratching their heads. As one expert put it, “Business schools don’t teach students how to measure culture, virality or communities.”
Well, they might want to start, because these presidential meme coins just proved that in crypto, sometimes the most absurd ideas are the ones that make the biggest splash.
