Is Melania Trump's Meme Coin a Buy?
On Jan. 19, First Lady Melania Trump launched the Official Melania meme coin on the Solana (CRYPTO: SOL) blockchain with the ticker $MELANIA. She followed in the footsteps of President Donald Trump's Official Trump meme coin, also launched on Solana a couple of days before, with the ticker $TRUMP.
In the hours after its launch, the coin rose to reach a value of $1.9 billion. It has since plunged and now has a market cap of about $450 million, making it a midsize meme coin, and leaving many early buyers deeply underwater on their investment. Should you rush to grab a bargain, or is caution warranted?
It's undeniable that the first-ever official meme coins of the president and his family mark a major turning point for the cryptocurrency ecosystem, and meme coins especially.
Source Fool.com
