Donald Trump, known for his vocal support of cryptocurrencies, saw his meme coin, $TRUMP, face a sudden and dramatic plunge in value after the launch of a competing coin from an unexpected source—his wife, Melania Trump. Just days before Trump’s swearing-in ceremony, Melania announced the launch of her own cryptocurrency, $MELANIA, which quickly surged in popularity, leaving the market shaken.

Melania took to X (formerly Twitter) to promote her token with a clear and confident message: “The Official Melania Meme is live! You can buy $MELANIA now." Accompanying the tweet was a link to the official website where the coin was available for purchase. The announcement came just hours before Trump was set to take the oath of office, causing a swift reaction from crypto investors.

The initial frenzy around Donald Trump’s $TRUMP coin saw it jump from its launch price of $10 to a peak of $70. Trump marketed the coin as a celebration of victory and resilience, featuring an image of himself raising a fist alongside the phrase “Fight Fight Fight.” Despite being presented as an endorsement rather than an investment opportunity, many buyers treated the coin as a speculative asset, driving up its value within days.

However, Melania’s surprise entry into the cryptocurrency space with $MELANIA overshadowed her husband’s efforts. Starting at $0.18, her meme coin climbed rapidly, reaching $7.41 in value and achieving a fully diluted market capitalization of $5 billion. This surge was fueled by enthusiastic buyers who were drawn to the buzz around the new token.

The Solana blockchain serves as the underlying platform for both $TRUMP and $MELANIA coins, but their trajectories couldn’t be more different. As Melania’s token gained momentum, $TRUMP experienced a 40% drop, leading some to speculate that the overlap in their target audiences may have split investor enthusiasm.

CIC Digital, a subsidiary of the Trump Organization, and Fight Fight Fight, another affiliated company, reportedly hold 80% of the $TRUMP token supply. While this ensures centralized control, it also raises questions about its long-term viability in the competitive crypto market.

Melania’s entry into the crypto space has not only intensified competition but also highlighted the growing trend of celebrity-driven meme coins. Whether this rivalry will be a passing phase or signal a deeper shift in the market remains to be seen.