Melania Trump on Sunday launched a new "meme coin," which caused the one launched by her husband to see its prices tank.
Donald Trump over the weekend advertised the new coin for his wife, by sharing a post by Melania Trump's account on Truth Social. According to Coinbase, "Memecoins are cryptocurrencies often inspired by internet memes or trends."
"The Official Melania Meme is live!" the account for Melania stated Sunday. "You can buy $MELANIA now."
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A report from The Kobeissi Letter stated that, "Donald Trump’s memecoin, $TRUMP, crashes over -40% as Melania Trump launches her own memecoin."
"This is beyond insane," it wrote on Sunday.
Conservative anti-Trump voice Heath Mayo weighed in, saying, "Such a scam."
"Can’t believe we just elected these jokers. It’s like we gave a recovering alcoholic access to the liquor cabinet—and he hasn’t even been sworn in yet," Mayo added. "The result is going to be terrible for our country and many good people who believe in all this will suffer."
The former Trump official Anthony Scaramuccialso chimed in, saying, "Launch of Melania coin is causing Trump coin to crash."
"Elon was right, we are living in a simulation. Which one of the kids coins will perform best?" he asked Sunday. "The day before inauguration as [the] leader of free world and this is what Trump is focused on. Tells you everything you need to know."