Chainalysis: 77% of Trump memecoin holders earned less than $100
Several wallets have more than $100M worth of Trump and Melanie memecoins. About 60 wallets have made the biggest gains, ranging from $1 million to $10 million. 80% of Trump and Melanie owners are investors with at least $1,000 on Solana.
Most crypto wallets that hold Trump or Melania memecoins have gained very little, suggesting retail buying activity.
That's according to data from Chinalysis, a blockchain forensics company. In a post on X, he looked at investors trading Trump and Melania memecoins following their launch ahead of President Donald Trump's inauguration on Monday.
77% of wallets earned less than $100. However, several wallets hold more than $100 million each. A breakdown of the findings shows that more than 600,000 wallets either break even or fall into this percentage bracket with earnings of less than $100.
A small amount, approximately 60 wallets, accounts for the largest profits, ranging between $1 million and $10 million.
6/8 In terms of profits, over 77% of wallets holding $TRUMP earned $10M. It's early days yet, and this is #investmentadvice pic.twitter.com/5ZFZW1hE3V
— Chainalysis (@chainalysis) January 23, 2025
New retail investors
They are said to be new retail investors who invest in these memecoins.
Looking at the findings:
“Further indicative of retail popularity, over 80% of $TRUMP and/or $MELANIA investors own less than $1k in Solana.”
Additionally, 50% of Trump and Melania token holders have never purchased the Solana altcoin, and “nearly half of buyers created their wallets the same day they bought the tokens,” he said.
But many have criticized Trump's MemCoin, arguing that he is only doing it to increase his personal wealth. According to a report in The Guardian, billionaire businessman Mark Cuban said: “It's only a matter of time before more people lose money on this.”
At the time of publication, the Trump coin is trading at a market value of more than $37 billion with a market value of $7.3 billion. At launch on Friday, January 17, the token reached more than $75, with a market cap of nearly $15 billion, according to data from CoinMarketCap.
