Replace (Jan. 19, 11:10 pm UTC): This text has been up to date so as to add data all through.
US President-elect Donald Trump’s controversial memecoin fell 38% as his spouse, incoming First Woman Melania Trump, launched a memecoin of her personal, which has hit a worth of $6 billion inside beneath two hours.
Mrs Trump promoted her self-titled memecoin MELANIA in a Jan. 19 X put up that was additionally shared by her husband.
DEXScreener information shows that over 45,000 wallets have purchased the token, which had hit a market cap of $6.14 billion since launching at simply after 9 pm UTC on Jan. 19.
The Official Melania Meme is dwell!
You should purchase $MELANIA now. https://t.co/mgSwtOQYnq
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/o2V9BQx2zG
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
In the meantime, Donald Trump’s self-titled TRUMP token noticed $5 billion wiped off its market cap, with its worth falling 38% from $74.6 to $45.9 in 40 minutes, CoinMarketCap information shows.
An internet site for the MELANIA token shared by Mrs. Trump said the memecoin was made to specific “assist” and “engagement” and is “not meant” to be an funding alternative.
The location claimed that 35% of the tokens have been distributed to the token’s crew, whereas 20% has been allotted to each treasury and group. It added that 15% was supplied to the general public, and 10% was put aside for liquidity.
Nevertheless, blockchain analytics platform Bubblemaps said in a Jan. 19 X put up that just about 90% of the token provide is in a single pockets and doesn’t match the claimed token distribution.
JUST IN: 🇺🇸 The bubble map of $MELANIA does NOT match the distribution on their web site pic.twitter.com/Q734sd4ykJ
— Bubblemaps (@bubblemaps) January 19, 2025
Coinbase govt Conor Grogan said on X that it’s “unlikely” MELANIA is a rug pull however it’s attainable that it was launched by a much less organized crew in comparison with the one behind the TRUMP token.
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“My guess is that this token was dealt with by a distinct crew than TRUMP’s,” he stated. “That one appears like skilled market makers, this one actually appears like faculty children.”
Grogan famous that MELANIA’s creator pockets was funded by a pockets that traded on Solana memecoin launchpad pump.fun.
An nameless crypto developer often known as “cygaar” added that Mrs. Trump’s web site was solely created on Jan. 18, isn’t protected by cybersecurity service Cloudfare and “has some half-assed entrance finish code.”
Mental property rights to the web site “melaniameme.com,” which supported the launch of MELANIA, are held by MKT World LLC — an organization arrange by Mrs. Trump in 2021 that shares a enterprise handle with the Trump Worldwide Golf Membership, according to Florida Division of State data.
The memecoin launches come someday forward of Donald Trump’s Jan. 20 presidential inauguration.
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