Celebrity themed crypto coins have certainly become quite trendy.  Following the launch of Caitliln Jenner’s $Jenner Music artists Iggy Azalea and Davido are the latest to join the train after launching MOTHER and DAVIDO tokens on the Solana network.  Given the widespread appeal of celebrities, token launches have generated millions of dollars upon release. However, there is a risk of manipulation by insiders or investors who hold significant portions of these tokens.  Furthermore, there have been instances where celebrities have reported hackers compromising their social media accounts to promote fake token launches, subsequently selling their holdings and causing losses for investors.

On the other hand, some celebrities appear to be benefiting from the surge in popularity of their tokens, witnessing significant growth. For instance, Olympic gold medalist Caitlyn Jenner’s JENNER token saw its value surpass a quarter billion dollars shortly after its launch on the Solana network. Similarly, Iggy Azalea and Davido have been actively engaged in promoting their tokens, frequently interacting with followers, and endorsing their projects.

Meme coins can be high volatility and are often exploited by malicious individuals to orchestrate pump-and-dump schemes and rug pulls.  One such example of a coin rising from the ashes is that of Obama family member Malik Obama. 

The journey for Malik’s current crypto started in April 2024 with the following tweet. 

One of  the current supporters stated that ”This all started when I was scrolling twitter on a Sunday morning  and I see a tweet by Malik Obama, Barack Obama’s real life biological half brother who is a HUGE trump supporter and a critical veteran of the great memewar of 2016 who also happens to be a big crypto degen and twitter shitposter who I have followed for years.  In this tweet there is a video of him saying “This is Malik Obama, This is Malik Obama, Buy some MELEK.. OBEMA COIN.. TO THE MOOON!!!! Buy obema.. melek obema coin.”

What makes this coin unusual is what happened next.  The coin in which Malik Obama had been so excited about was stolen from him. The coin turned out to be a rug pull as the dev disappeared on day 2.  It was later confirmed via bots that he had sniped 70% of his own supply upon launch and slowly but steadily sold all of it as we were buying in what is called a “slow rug” A member of the coin community  reached out to Malik Obama directly over DM to find out the developers had sent him only 2% of the coin (you’d think he’d get a lot more!) Malik had not sold 1 coin and was still onboard to help us bring it back even though the chart was absolutely destroyed and hit a floor of 35k after having gone to about 800k in the initial run up. “Having Malik’s support was the anchor that held the project together through thick and thin and the trials and tribulations that followed”. According to the community member.  This member also stated “For the next few weeks we had some big ups and downs among the ”˜whales’ and core team members and every week a few people would dump their coin and leave us right as we were gaining momentum.  However, the core believers just continued to accumulate and build our relationships as a team and our strategy and vision around what we felt was still just one of the most unique projects in the space.  Eventually we got to a point where all of the ”˜jeeterz’, otherwise known as the people who quit were eventually all out and finally, we are able to build real momentum and take the project to the next level.”

Thanks to the dedication of a select group, the coin is now stable again and back to creating content.  Malik himself regularly joins their twitter spaces to discuss upcoming plans.  The team is actively gearing up for PolitiFi “bull season” (election season)  by adding professional content such as animation and music.  They are also gearing up to create a substantial presence on Truth Social and a physical presence at MAGA rallies. 

The team sees their project as a bridge between memecoins and real life and using memecoins as a vehicle to create communities and spread messages and ideas.  They also have plans to support Malik’s foundation with proceeds from the coin.  Also in discussions are digital donations to the Trump campaign once a higher market cap is achieved. 

Malik is an unusual character in Barack Obama’s world.  Malik has claimed that his half brother was actually born in Kenya and is in fact gay.  In sharp contrast to his younger brother Barack, Malik is regularly seen sporting a MAGA hat. 

The coin is currently starting to gain traction after its relaunch although the market cap is still relatively small at under $55,000.  The coin has traded less than 5% of its market cap over the past 24 hours showing that people are buying and holding this coin. 

The future of this coin remains unclear, however a dedicated core team and the presence of Malik Obama himself give it more than a fighting chance to succeed. 

Malik Obama trades under the ticker $MELEK.