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.

The new bill follows presidential forays into memecoins from Donald Trump, the president of the Central African Republic, and Argentina.

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.

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.

Congress Democrats have introduced a bill in the House to ban top federal officials and their families from issuing or promoting meme coins.