United States President-Elect Donald Trump’s controversial memecoin fell 28% as the incoming first lady Melania Trump launched a memecoin of her own, notching a $4 billion market cap within the first half hour of launch.
The MELANIA memecoin was promoted on Melania Trump’s X account to her 3.2 million followers and was retweeted by the incoming US President shortly after.
The Official Melania Meme is live!
You can buy $MELANIA now. https://t.co/mgSwtOQYnq
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/o2V9BQx2zG
— MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
The MELANIA token’s market cap soared above $4 billion within the first half hour of it launching while experiencing extreme volatility DEXScreener data shows.
Nearly 20,000 investors have bought the token.
Around the same time, Donald Trump’s OFFICIAL TRUMP (TRUMP) token saw $5 billion wiped off its market cap, CoinMarketCap data shows, falling 38% from $74.6 to $45.9 in 40 minutes.
The memecoin was created to express “support” and “engagement” for Melanie Trump and is “not intended” to be an investment opportunity.
According to Melania Trump’s meme page, 35% of the tokens have been distributed to team vesting, 20% to both treasury and community, 15% to the public and 10% in liquidity.
However, blockchain analytics firm Bubblemaps claims nearly 90% of the token supply is in a single wallet.
JUST IN: 🇺🇸 The bubble map of $MELANIA does NOT match the distribution on their website pic.twitter.com/Q734sd4ykJ
— Bubblemaps (@bubblemaps) January 19, 2025
Intellectual property rights to the website “melaniameme.com,” which supported the launch of MELANIE, are held by MKT World LLC.
The memecoin launches come one day ahead of Trump’s Jan. 20 presidential inauguration.
