Trump and Melania Memecoins See Little Profit for Most Holders, Suggesting Retail Buying Activity

A majority of crypto wallets holding the Trump or Melania memecoins have made very little money, suggesting retail buying activity.

A majority of crypto wallets holding the Trump or Melania memecoins have made very little money, suggesting retail buying activity.

That’s according to data from Chainalysis, a blockchain forensics company. In a post on Twitter, it looked at investors trading with the Trump and Melania memecoins following their launches ahead of President Donald Trump’s inauguration on Monday.

It found that 77% of wallets have earned less than $100; however, several wallets are holding more than $100 million each. A breakdown of the findings show that over 600,000 wallets breaking even or earning less than $100 fall into this percentage bracket.

A small amount, roughly 60 wallets, hold the biggest profits, reaching between $1 million and $10 million.

New retail investors

Those investing in these memecoins are said to be new retail investors, according to Chainalysis.

Taking a look at the findings, it said:

“Further suggesting retail popularity, over 80% of $TRUMP and/or $MELANIA holders are investors who hold less than $1k worth of assets on Solana.”

Additionally, 50% of Trump and Melania token holders have never bought a Solana altcoin, adding that “nearly half of buyers created their wallets the day they purchased the tokens.”

Many, however, have criticized Trump’s memecoin, arguing that he’s only doing it to boost his personal fortune. According to billionaire businessman Mark Cuban “it’s just a matter of time until a lot of people lose money from this,” according to a report in The Guardian.

At the time of publishing, the Trump coin is trading at over $37 with a market cap value at $7.3 billion. When it launched on Friday, January 17, the token peaked at more than $75 with a market cap value close to $15 billion, according to data from CoinMarketCap.