Melania Trump Shakes Up the Crypto World with the Launch of Her Self-Titled Memecoin, MELANIA

The token is now trading at $11.85, marking a 22,000% rise since its launch.

Former First Lady Melania Trump made waves in the cryptocurrency world on Jan. 19 with the launch of her self-titled memecoin, MELANIA, which soared to an astonishing $1.5 billion market cap in a mere 9 hours. The token, available on PancakeSwap (V2), has since seen a phenomenal 22,000% surge in value.

But Melania’s triumph came at a cost to her husband’s token, TRUMP, which took a steep hit. As the memecoin mania unfolded, TRUMP’s price plummeted 38% from $74.6 to $45.9 in 40 minutes, shaving $5 billion off its market cap, according to CoinMarketCap.

The MELANIA token, which was announced in an X post by Melania and backed by Donald Trump, attracted massive attention. Within an hour of its launch at 9 PM UTC, it boasted over 45,000 wallets, as per DEXScreener.

Melania’s token aims to foster “support” and “engagement” with a specific distribution of the total supply: 35% for the team, 15% for the treasury, 15% for the community, 10% for the public, and 5% for liquidity.

However, blockchain analytics platform Bubblemaps highlighted a concerning aspect of the token. According to their analysis, a single wallet surprisingly owns 90 percent of the MELANIA in circulation, raising questions about the token’s transparency.

Crypto analysts offered varying perspectives on the token. Coinbase executive Conor Grogan observed that MELANIA appears to have less professional planning compared to TRUMP, while developer “cygaar” noted the lack of security measures on the project’s website, which was registered only a day prior to the initial coin offering (ICO).

Interestingly, the website “melaniameme.com” is owned by MKT World LLC, the company that has been associated with Melania Trump since 2021.

The launches of these memecoins come a day before Donald Trump’s January 20 presidential inauguration, setting the stage for a unique crypto war within the Trump family.

Meanwhile, top traders of TRUMP have reportedly generated massive profits, leading to speculation about whether they had advance knowledge of the token or were simply fortunate in their trades.