#MelaniaTrumpLaunchesToken
On January 19, 2025, incoming First Lady Melania Trump unveiled her own cryptocurrency token, $MELANIA, just a day before President-elect Donald Trump's inauguration. This launch closely followed the introduction of Donald Trump's $TRUMP token, which had experienced significant market activity.
Melania Trump announced the release of $MELANIA on her social media platform, stating, "The Official Melania Meme is live! You can buy $MELANIA now." The token, built on the Solana blockchain, quickly garnered attention, with over 45,000 wallets purchasing it and its market capitalization reaching approximately $6.14 billion within two hours of launch.
The introduction of $MELANIA had an immediate impact on the $TRUMP token. Following the announcement, $TRUMP's price fell by 38%, dropping from $74.6 to $45.9 in just 40 minutes, resulting in a $5 billion reduction in its market capitalization.
The official website for $MELANIA describes the token as a means to express "support" and "engagement," emphasizing that it is "not intended" to be an investment opportunity. However, blockchain analytics platform Bubblemaps highlighted that nearly 90% of the token supply is held in a single wallet, a distribution that does not align with the allocations stated on the website.
These developments in the cryptocurrency market coincide with President-elect Donald Trump's inauguration, marking a notable intersection of political events and digital asset dynamics.
