The launch of Melania Trump’s memecoin, $MELANIA, has disrupted the momentum of Donald Trump’s $TRUMP token, causing it to lose nearly half its value as investors grapple with competing tokens from the incoming first couple.
A Quick Take delivers key facts fast—concise, clear, and easy to read. Perfect for busy readers.
$MELANIA launched on Solana and promoted via Melania Trump’s verified accounts on X and Truth Social.
- It saw a 12,000% price surge in 24 hours, reaching $6.70 and a $5.7 billion fully diluted valuation.
- At the time this article is written, the token surged to $10.
$TRUMP fell 48%, from $75 to as low as $34 before recovering slightly to $45. (Read more: Quick Take: Trump Memecoin Launch Boosts Solana to All-Time High, Hits XRP and ETH)
- Across posts on social media platform X, investors and analysts criticized the launch of competing tokens for diluting value of the Trump coin.
- Popular traders and analysts labeled the launch of $MELANIA a misstep, warning that it diluted $TRUMP’s scarcity and credibility.
- American entrepreneur Balaji Srinivasan called it “a giant Trump fumble”.
Tokenomics concerns:
- $MELANIA’s tokenomics allocate 88% of the supply to insiders, with a faster vesting schedule compared to $TRUMP’s 80%.
- Blockchain analysis revealed that 89% of $MELANIA remains in a single wallet, contradicting claims of broader distribution.
Solana congestion:
- Both tokens contributed to congestion on Solana’s infrastructure, with wallet providers reporting transaction delays amid an 8 million requests-per-minute surge.
Finally: Critics highlighted the lack of transparency and governance in the launches, with some noting former SEC Chair Gary Gensler would be “laughing at us” over the unregulated chaos.
What’s next: Donald Trump is scheduled to be inaugurated today.
This article is published on BitPinas: Quick Take: Melania Trump’s Meme Coin Derails $TRUMP Token Rally
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