Melania Trump Launches Her Own Memecoin on Solana (SOL), Skyrockets to $9.4B Valuation

Melania Trump's social media platform X account suddenly announced that MELANIA was live for trading on Sunday.

First Lady Melania Trump has launched her own cryptocurrency, quickly skyrocketing to a valuation of over $9.4 billion.

The coin, called MELANIA, was announced by the First Lady's social media platform X account on Sunday, stating that the token is now available for trading on several cryptocurrency exchanges.

However, according to Bubblemaps, there are major discrepancies between MELANIA's reported tokenomics and its actual distribution.

"JUST IN: The bubble map of MELANIA does not match the distribution on their website."

Bubblemaps is not the only prominent crypto voice questioning the launch of the First Lady's new coin.

Former White House Communications Director Anthony Scaramucci has expressed strong disapproval of any tokens associated with Trump, likening them to "Idi Amin-level corruption."

Despite the criticism, Binance announced it was launching support for MELANIA on Monday, while ByBit and Kraken also added support for the new memecoin.

Coinbase executive Conor Grogan has noted that MELANIA is fundamentally different from the launch of the TRUMP memecoin.

"This Melania coin which launched a few minutes ago (and is worth a few billion) appears to be structured differently than TRUMP.

Creator wallet was funded by a wallet that traded on PumpFun, and there is no sign of a multisig (Trump had one setup pre-launch)."