Melania Trump's recently launched meme coin, $MELANIA, has made significant waves in the cryptocurrency market. Following its debut, the token experienced a substantial price surge, reaching over $10. This rapid ascent was further bolstered by Binance's announcement of support for a USDT-based perpetual contract for $MELANIA, allowing trading with up to 25x leverage.
The introduction of $MELANIA had a notable impact on the $TRUMP token, previously launched by Donald Trump. The $TRUMP token, which had achieved a market capitalization of $15 billion, saw a decline of approximately 38% in value following the launch of $MELANIA.
Despite the initial enthusiasm, concerns have been raised regarding the concentration of $MELANIA tokens. Reports indicate that nearly 90% of the token supply is held in a single wallet, prompting discussions about transparency and distribution fairness.
As of January 21, 2025, $MELANIA continues to attract attention from investors and traders, with its market dynamics closely monitored.