#MELANIACoin Trump's memecoin launched after Donald Trump's official TRUMP token reached a $15 billion market cap before falling nearly 40%.
United States President-Elect Donald Trump’s controversial memecoin fell 28% as the incoming first lady Melania Trump launched a memecoin of her own, notching a $4 billion market cap within the first half hour of launch.
The MELANIA memecoin was promoted on Melania Trump’s X account to her 3.2 million followers and was retweeted by the incoming US President shortly after.
Melania trump's memecoin launched after Donald Trump's official TRUMP token reached a $15 billion market cap before falling nearly 40%.
MELANIA’s market cap soared above $4 billion within the first half hour of it launching while experiencing extreme volatility, DEXScreener data shows.
Over 25,000 investors have bought the token.
Around the same time, Donald Trump’s OFFICIAL $TRUMP
(TRUMP) token saw $5 billion wiped off its market cap, CoinMarketCap data shows, falling 38% from $74.6 to $45.9 in 40 minutes.
The memecoin was created to express “support” and “engagement” for Melanie Trump and is “not intended” to be an investment opportunity.
According to Melania Trump’s meme page, 35% of the tokens have been distributed to team vesting, 20% to both treasury and community, 15% to the public and 10% in liquidity.
However, blockchain analytics firm Bubblemaps claims nearly 90% of the token supply is in a single wallet.
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