From TRUMP to MELANIA: a dive into the phenomenon of political meme coins

In January 2025, the world of cryptocurrencies experienced an unprecedented moment: the launch of a meme TRUMP, a digital currency created to celebrate Donald Trump’s electoral victory. This event marked much more than a simple announcement; it raised fundamental questions about the convergence of politics, internet culture, and digital assets. With a market cap surpassing $10 billion in less than 48 hours, the meme TRUMP established itself as an unprecedented phenomenon in the realm of community tokens.

The meme TRUMP: when politics meets meme culture

Launched on the $SOL network (Solana), the meme TRUMP is not a project aiming to revolutionize blockchain or solve technological problems. Unlike Bitcoin, which seeks to create a decentralized currency, or Ethereum, which offers a programmable platform, the meme TRUMP draws its strength from community engagement and cultural relevance.

The official announcement was made via Truth Social, the social media platform of the elected president, with a simple yet mobilizing message: a symbol of “victory” inviting supporters to join the movement by acquiring the token. The slogan “Fight, Fight, Fight” crystallized this dynamic, reinforcing unity around a common vision. This approach shows how memes and politics can merge in the digital space, creating a new form of civic engagement—or speculation, depending on the perspective.

Spectacular growth followed by market correction

The first hours after the launch of the meme TRUMP defied all expectations. In just seven hours, the token’s market cap exploded by over 800%, reaching $3 billion. The trajectory continued, with the market cap exceeding $15 billion before stabilizing around $12 billion in January 2025—a remarkable increase compared to typical token trajectories.

However, it should be noted that since this initial period, the market has experienced significant fluctuations. As of January 2026, the meme TRUMP is trading around $4.80, with a circulating market cap of approximately $959 million. This dramatic correction highlights the highly volatile and speculative nature of meme coins, where initial meteoric gains can be followed by equally dramatic declines.

The MELANIA effect: when rivals divide capital

Less than two days after the TRUMP launch, Melania Trump announced her own meme coin, MELANIA. This announcement, quickly shared by Donald Trump on social media, caused an immediate drop of over 50% in the TRUMP within minutes. This revealing moment illustrates how fragmentation in the political meme coin market can split investor capital and create unexpected competitive dynamics.

Today, MELANIA is trading around $0.17, with a circulating market cap of $91 million, representing a fraction of the TRUMP’s value. This dichotomy between the two meme tokens illustrates how relative popularity and community support determine their respective performances.

Structural issues: centralization and conflicts of interest

Beneath the media success of the meme TRUMP lie troubling structural questions. The project was launched with an initial supply of 200 million units, with the goal of unlocking an additional 800 million over three years. This gradual issuance strategy could have been justified by maintaining engagement; however, the distribution reveals problematic concentration of power.

According to the project’s structure, 80% of the total supply is allocated to the token creators and CIC Digital LLC, a subsidiary of the Trump Organization. This extreme concentration raises inevitable questions: who truly benefits from the project’s success? Are those close to the project incentivized to maximize short-term gains at the expense of external investors? These dynamics reflect a recurring critique of meme coins: they can serve as mechanisms for wealth transfer rather than shared value creation.

Ethical questions lingering for the crypto ecosystem

The phenomenon of the meme TRUMP sparks a broader debate about the legitimacy and direction of the cryptocurrency industry. By prioritizing popularity and buzz over functional utility, projects like TRUMP risk reinforcing the perception that the crypto market is primarily a speculative space lacking real technological substance.

The risks for investors are substantial. The volatility of meme coins is legendary: exponential gains in the early hours can turn into catastrophic losses for those who arrive too late. Moreover, the involvement of high-profile political figures creates an informational asymmetry—some actors have privileged information about the distribution schedule and future initiatives, which distorts the playing field for ordinary investors.

Looking ahead: uncertainty and dependence on external factors

The future of the meme TRUMP remains highly uncertain. Its success will depend on several variables beyond the control of the project creators: ongoing community support, the resilience of the crypto market amid volatility cycles, and competition from other similar initiatives that regularly emerge.

The scheduled unlocking of 800 million new tokens over three years is a key factor. How will the market absorb this gradual dilution? Will the community stay engaged, or turn to the next trending meme coins? These questions remain unanswered.

What is certain is that the meme TRUMP represents an inflection point in how politics, culture, and digital assets interact. Whether remembered as a visionary success or a cautionary tale against unchecked speculation, the meme TRUMP has undeniably transformed the cryptocurrency landscape and raised questions that will occupy the industry for years to come.