In a stunning turn of events in the cryptocurrency world, Melania Trump, wife of the former President Donald Trump, has officially launched her own memecoin, named $MELANIA. This launch follows a turbulent period for Donald Trump’s own memecoin, the TRUMP token, which recently saw a dramatic decline of 38% in its market valuation. After peaking at an astonishing $15 billion, the TRUMP token has fallen nearly $5 billion in market cap in a matter of minutes.
On January 19, 2025, just hours before Melania’s new token was unveiled, the TRUMP token’s price plummeted from $74.6 to $45.9. This massive drop occurred within a mere 40 minutes, as evidenced by data from CoinMarketCap. Coinciding with this disruption, Melania Trump’s memecoin quickly gained traction, reaching a market cap of around $6.14 billion shortly after its launch.
The launch announcement was made via a post by Mrs. Trump herself, who emphasized that the memecoin was created to foster “support” and “engagement,” making it clear that it is “not intended” as a traditional investment vehicle. Notably, 35% of the total tokens have been allocated to the project team, with another 20% reserved for treasury and community purposes. However, concerns arose when blockchain experts pointed out discrepancies in the token distribution claims, suggesting that almost 90% of the supply resides in a single wallet.
In reaction to the unfolding situation, Coinbase executive Conor Grogan expressed skepticism about the organization behind the $MELANIA token. He indicated that the team behind Melania’s memecoin “looks like college kids” compared to the professionals who managed the TRUMP token. Additionally, an anonymous developer noted the lack of cybersecurity measures on Melania’s website, hinting that it may not have been developed with optimal professionalism.
This launch comes just a day ahead of Donald Trump’s presidential inauguration, adding a layer of intrigue and speculation in the crypto community regarding the impact these memecoins may have on both digital currency markets and the political landscape.
