Melania Trump’s $MELANIA Coin Faces Lawsuit Over Alleged Pump-and-Dump

The cryptocurrency $MELANIA, launched earlier this year and inspired by U.S. First Lady Melania Trump, has landed at the center of a major courtroom battle. Investors are accusing its creators of running a pump-and-dump scheme that caused the token’s value to crash shortly after its much-hyped debut.

According to court documents filed on Tuesday, October 21, in the Southern District of New York, executives from the Meteora cryptocurrency exchange allegedly manipulated the launch to benefit themselves and close associates.

The filings claim that these insiders bought up large amounts of $MELANIA coins, inflated the price artificially, and then dumped their holdings for massive profits — leaving ordinary investors with heavy losses when the coin’s value plummeted.

The $MELANIA coin officially launched on January 19, just one day before Donald Trump’s inauguration anniversary. Initially priced at just a few cents per token, it soared to $13.73 within hours, driven by intense hype and celebrity association.

But the celebration was short-lived. The token soon crashed to around $0.10, losing more than 99% of its peak value — sparking outrage and suspicion among investors.

The $MELANIA coin officially launched on January 19, just one day before Donald Trump’s inauguration anniversary. Initially priced at just a few cents per token, it soared to $13.73 within hours, driven by intense hype and celebrity association.

But the celebration was short-lived. The token soon crashed to around $0.10, losing more than 99% of its peak value — sparking outrage and suspicion among investors.