TRUMP FALLS 38% WHEN MELANIA LAUNCHES HER OWN MEMECOIN
US President-elect Donald Trump's controversial memecoin plunged 38%, while incoming first lady Melania Trump launched her own memecoin, gaining a $5 billion market cap in its first hour of launch.
MELANIA memecoin was promoted by Melania Trump's X account to her 3.2 million followers and was retweeted shortly after by the incoming US president.
The official Melania meme is live!
You can now buy $ MELANIA. https://t.co/mgSwtOQYnq
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/o2V9BQx2zG
— Melania Trump (@MELANIATRUMP) January 19, 2025
Melania's market value is currently at $5.3 million but is experiencing high volatility, DEXScreener data shows.
More than 45,000 investors bought tokens.
Around the same time, Donald Trump's official TRUMP token fell $5 billion from its market cap, according to CoinMarketCap data, plunging 38% from $74.6 to $45.9 in 40 minutes.
Memecoin was created to express “support” and “participation” for Melania Trump and to be an “unexpected” investment opportunity.
According to the Melania Trump meme page, 35% of the tokens are distributed to the team, 20% to both the treasury and the community, 15% to the public and 10% to liquidation.
However, blockchain analytics firm Bubblemaps claims that nearly 90% of the token supply is in a single wallet.
Just in: 🇺🇸 $MELANIA's bubble map doesn't match the distribution on their website pic.twitter.com/Q734sd4ykJ
— Bubble Maps (@bubblemaps) January 19, 2025
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Coinbase CEO Conor Grogan said that while it's “unlikely” Melania is pulling the rug, it could be launched by a disorganized group compared to the one behind the TRUMP token.
This appears to have been put together by “college kids,” Grogan said, adding that Melania's creator wallet was funded by a wallet sold on Solana's memecoin launchpad pump.fun.
The intellectual property rights for the website “melaniameme.com” which supported MELANIE's launch are held by MKT World LLC.
The memecoin launch comes a day before Trump's January 20 presidential inauguration.
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This is a developing story, and more information will be added as it becomes available.
