Incoming First Lady Melania Trump Launches Solana-Based Meme Coin $MELANIA

The $TRUMP coin experienced a meteoric rise, reaching a market capitalization of approximately $14.92 billion and an all-time high of $75.35.

First Lady Melania Trump has unveiled her Solana-powered meme coin, joining President-elect Donald Trump in the cryptocurrency arena. Melania's $MELANIA token has quickly gained traction in the crypto community.

As Trump's $TRUMP coin experienced a remarkable ascent, reaching a market capitalization of nearly $14.92 billion and hitting an all-time high of $75.35, its value sharply declined by 50% with the introduction of $MELANIA.

The new token surged to a peak valuation of $1.8 billion, rising to an all-time high of $13.19 before stabilizing around $9.34.

Several centralized crypto exchanges, including Gate.io, MEXC, Bitget, BitMart, BingX, HTX, LBank, and CoinEx, have listed the $MELANIA token under the MELANIA/USDT trading pair.

These listings have contributed to a surge in trading volume, which currently stands at $2.2 billion. KuCoin will also list $MELANIA, and trading is set to commence today at 06:00 UTC.

The tokenomics reveal a total supply of 1 billion $MELANIA tokens, which are allocated as follows: 35% to the team, 20% to the community, 20% to the treasury, 15% to the public offering, and 10% to liquidity.

While the team's 35% share is locked for 30 days and will be gradually released over the following months, the allocation of only 15% of the total supply to the public offering has raised concerns within the crypto community regarding centralization and potential market manipulation.

The rapid introduction of this meme coin by the incoming First Family has sparked debates in the crypto sphere. Some critics have expressed concerns about the ethical implications and potential conflicts of interest, arguing that such ventures may blur the lines between personal financial interests and public responsibilities, especially given the significant insider ownership and the volatile nature of meme coins.

On the other hand, proponents of the launches view them as indicative of a pro-crypto stance that could foster innovation and adoption in the broader digital asset space.

The launches of $TRUMP and $MELANIA have undeniably stirred the cryptocurrency market, reflecting the dynamic interplay between politics and digital assets. As the United States prepares for a new administration, the crypto community will closely monitor how these developments influence regulatory approaches and market dynamics in the coming years.

This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

Follow us on Twitter, Facebook, Telegram, and Google News