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First lady Melania Trump has publicly supported her official memecoin by sharing a mysterious video featuring her image on the project’s official X account.
“Into The Future,” Trump expressed last week on X, as she posted a video from the Melania Meme official account that depicted a holographic representation of her appearing out of thin air.
Her last mention of this project was on January 19, coinciding with its launch. The recent update also comes after several months of quiet from the project’s team, which last communicated in June about a liquidity deal with market maker Wintermute and intentions to roll out a new website.
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The motivation behind the latest post remains uncertain, whether related to a new product launch or partnership news. However, Trump’s message led to a 17% rise in the token’s value last week, increasing from roughly $0.17 to a peak of nearly $0.20, though the token has since dropped to about $0.18.
This brief uptick comes after an extended decline, during which the token has plummeted more than 99% from its peak price exceeding $13. As a memecoin with no practical use, it has struggled due to waning interest and alleged sell-offs by team members.
In April, cryptocurrency analysis firm Bubblemaps reported that the project team was quietly liquidating $30 million worth of MELANIA tokens from the community fund, which traditionally supports ecosystem growth and community incentive programs.
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Previously, Bubblemaps noted that the MELANIA team had withdrawn $2 million worth of tokens from the liquidity pool. This transaction allegedly involved cryptocurrency influencer Hayden Davis.
Davis gained attention in the cryptocurrency space after helping launch LIBRA, which received promotion from Argentine President Javier Milei. According to Bubblemaps, the tactics used to withdraw $2 million from MELANIA’s liquidity pool mirrored those Hayden previously employed to pull $100 million in tokens from LIBRA’s liquidity pool.
