The story of Trump’s meme coin continues to create a buzz as Melania Trump unexpectedly launched her own token, just a few days after Donald Trump introduced the $TRUMP .
Melania Meme Coin Soars 12,000%
The token #Melania , developed on the Solana blockchain, has surged over 12,000% in 24 hours, reaching a price of $6.70. This token is described as a “digital asset for collecting and entertainment” rather than for investment purposes. The allocation of the token is quite clear:
• 35% allocated for the development team (disbursed over 13 months).
• 20% for the treasury and community initiatives.
• 15% for public distribution and 10% for liquidity.
Meanwhile, the price of TRUMP has dropped sharply by 32% in the past 6 hours, from a peak of $77 down to $45, according to #GeckoTerminal .
Pressure From Solana's Infrastructure
The excitement from the two meme coins has put significant pressure on Solana's infrastructure:
• Phantom wallet reports over 8 million requests per minute, complicating transactions.
• Moonshot, the platform for launching meme coins on Solana, is also experiencing order congestion.
Impact on the Crypto Market
Not only affecting the Solana system, the overall crypto market has also seen a sharp decline:
• Bitcoin has fallen to the level of $100,000.
• Established meme coins like DOGE fell by 11% in 24 hours.
Conclusion
The emergence of the Melania Meme Coin shows that the crypto market is always full of surprises. While it attracts attention, users need to be cautious as meme coins often carry high speculative risks and volatility. Please do thorough research before investing!#anhbacong