First Lady Melania Trump's disastrous meme coin has tanked just weeks after it was launched. Worth $13.69 at its peak on January 20, the cryptocurrency has now flopped and the value of her $Melania coin slumped as low as $0.

The first lady's meme coin fell to a market valuation of just $513 million one month after launching with a $1.5 billion market cap.

The value of $MELANIA has plummeted to less than $1, leaving investors reeling from losses, underscoring the unpredictable world of cryptocurrency.

A California Democrat plans to introduce the Modern Emoluments and Malfeasance Enforcement Act, or MEME Act, on Thursday.

Memecoin’s moment may have passed, just after U.S. President Donald Trump cashed in on the frenzy around it. The MAGA chief’s decision in January to launch a memecoin—a digital token which isn’t linked to any kind of underlying business or asset—caused a flurry of interest,

When the most famous man in the world cashes in on a crypto trend, that's a strong top signal. Why it matters: Revenue has been falling for the leading meme-coin platform since the Trump Organization launched the Official Trump (TRUMP) and Melania Meme (MELANIA) coins Jan.