$Trump and $Melania: What are meme coins and how do they work?

Since their launch, both $TRUMP and $MELANIA meme coins have gained significant attention.

Updated on: Jan 20, 2025, 13:56:09 IST

By HT News Desk | Written by Shivam Pratap Singh

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US President-elect Donald Trump launched a meme coin by the name of $Trump on Friday, just days ahead of his inauguration scheduled for Monday.

Donald Trump announced on Friday, "My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!" (X)

His wife Melania Trump followed suit on Sunday, launching a meme coin $MELANIA, ahead of her return to the White House for the second time as the First Lady of the United States.

Donald Trump Inauguration Live Updates here.

Since their launch, both $TRUMP and $MELANIA meme coins have gained significant attention. $Trump has gained a market cap of $8.87 billion, while Melania’s coin has a market cap of $1.19 billion.

According to CoinGecko, Donald Trump's meme coin is currently the 22nd most valuable cryptocurrency in the world while Melania's coin stands as the 94th most valuable.

The in-coming US President has promised that his administration would be a crypto friendly one. Many big names from the crypto industry have been named in various roles in the administration.

So what exactly are meme coins and how do they work?

Meme coins are a form of cryptocurrency or digital asset that take their inspiration from internet memes and trends. They usually get their names from characters, animals, or individuals popular on social media. Meme coins are heavily influenced by internet memes, pop culture, online hype, and social media trends, and just like any other form of cryptocurrency, they are highly volatile and speculative.

These coins, like any other cryptocurrency, are created using blockchain technology. The blockchain technology stores and shares data across a network and the tokens are hexadecimal numbers stored in the blockchain that facilitate transactions. The images of the coin are inspired by internet memes, making them attractive among investors. For ownership purposes, they have private keys.

Dogecoin, backed by Trump ally Elon Musk, and Shiba Inu are some popular meme coins.

Are meme coins better than other cryptos?

Advantages:

Meme coins are an attractive and fun asset that can be used to learn about cryptocurrency and blockchain technology.
Meme coins are often less expensive than most other cryptocurrencies. Thus, they become more

Disadvantages:

Meme coins are highly volatile and work on speculations and trends. Therefore, they are quite risky for investors.
Meme coins are digital assets without intrinsic value. They have no uses beyond tokens for trading or speculation.
Due to the lack of enough regulation on meme coins worldwide, the risk of potential scams is very high.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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