Donald Trump and Melania Trump among richest in the world, thanks to meme coin

US President-elect Donald Trump and his wife, Melania Trump, now have their own meme coins that are gaining significant attention in the market, making them among the richest in the world. Donald Trump's meme coin, $TRUMP was trading at $ 49.01, at the time of writing with a market cap of $ 9.8 billion, an 85.55% jump from the previous day, according to Coinmarketcap.

Melania Trump, the soon-to-be First Lady of the US, introduced her own meme coin, $MELANIA, on January 20 (Sunday, January 19 in the US). Her meme was trading at $11.09, at the time of writing a jump of 51.29% since its launch with a marketcap of $1.79 billion.

According to the CoinGecko, $TRUMP is currently the 22nd most valuable form of crypto in the world while $MELANIA is the 94th most valuable, adding them among the richest in the world.

After Melania Trump's meme coin launch, Donald Trump's token fell to $4, nearly 50% before rising again, according to reports.

Donald Trump called these steps “all investments” while speaking at a rally, stating that “Bitcoin has shattered one record after another.”

Meme coin launch

The soon-to-be US president launched a meme coin on late Friday (US time) with a social media post on Truth Social.

“My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to gettrumpmemes.com/ — Have Fun!” Trump wrote.

While Melania Trump launched her meme coin on late Sunday (US time) with a post on X with the caption.

"The Official Melania Meme is live!

You can buy $MELANIA now."

These newly launched meme coins are digital tokens with no intrinsic value and is traded on a digital ledger technology called blockchain.

Donald Trump's support for cryptocurrency

Donald Trump, who is set to enter the White House for the second time, has been very vocal about his support for cryptocurrency. He plans to make cryptocurrency a national priority by releasing an executive order and giving people from the industry a space within his administration, Bloomberg reported on Friday.