Melania Memecoin Surges on Documentary Hype as Trump Calls It a 'Must Watch'
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Documentary Buzz Lifts MELANIA Token
The Solana (SOL)-based Official Melania memecoin had a surprisingly strong day Monday, climbing nearly 5% while leaving bigger names in the dust. Trading volume jumped 23% to $23.85 million as speculators piled in ahead of Amazon MGM Studios' documentary on First Lady Melania Trump, scheduled to drop on January 30.
The timing isn't coincidental. President Donald Trump took to X to promote "Melania," calling the documentary a "Must Watch." That endorsement appears to have given the token a shot in the arm, at least for now.
Here's how MELANIA stacked up against some of the crypto world's heavy hitters:
| Cryptocurrency | 24-Hour Gains +/- | YTD Gains +/- |
|---|---|---|
| Official Melania | +4.94% | +45.48% |
| Bitcoin | +0.94% | -1.04% |
| Dogecoin | +0.50% | +4.60% |
| Official Trump | -0.73% | -0.20% |
MELANIA not only outperformed Bitcoin (BTC) and Dogecoin (DOGE), but also the Official Trump (TRUMP) memecoin. Speculative interest spiked too, with open interest in MELANIA derivatives jumping 17% over the same period, according to data from Coinglass.
A Token That's Lost 99% of Its Value
Before you get too excited, let's talk about context. Both MELANIA and TRUMP memecoins launched right before Trump's presidential inauguration last year, and both sparked immediate controversy. The MELANIA token briefly touched an all-time high of $13.73 shortly after launch, boasting a market cap of $1.73 billion at its peak.
Since then? It's been a brutal ride down. The token has plunged nearly 99% from that peak, and its market cap has collapsed to just $164 million. The TRUMP coin hasn't fared much better, down 93% from its high.
The controversy hasn't faded either. Earlier this month, investment banking giant TD Cowen warned that the Trump family's crypto ventures—including these two memecoins—could actually derail progress on cryptocurrency market structure legislation. That's not exactly the regulatory tailwind the industry was hoping for.
At the time of writing, MELANIA was trading at $0.1680, up 4.94% over the last 24 hours. Whether this documentary-fueled bounce has legs or it's just another flash in the pan for a deeply troubled token remains to be seen.
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