Melania Trump recently launched a cryptocurrency called MELANIA, shortly after Donald Trump’s TRUMP token experienced a sharp decline.
Melania Trump recently launched a cryptocurrency called MELANIA, shortly after Donald Trump’s TRUMP token experienced a sharp decline. The TRUMP token, which had once reached a peak of $74.59, now stands at $62.3 with a market cap of $12.4 billion. The introduction of MELANIA coincided with a 38% drop in TRUMP’s value, diverting market attention.
The MELANIA token debuted late on Jan. 19, quickly achieving a market cap of $6.14 billion within two hours and attracting over 45,000 wallet holders, as per DEXscreener. Promoted by Melania Trump on social media, the token’s website claims its purpose is to promote “engagement” rather than being an investment tool. The site outlines token allocation as: 35% to the team, 20% each to the treasury and community, 15% for the public, and 10% for liquidity. However, blockchain analytics from Bubblemaps revealed that nearly 90% of the token supply resides in a single wallet, raising questions about its transparency.
The MELANIA token is managed under MKT World LLC, a company Melania Trump founded in 2021, which also controls the associated website. The website’s security flaws, including a lack of Cloudflare protection and poorly written front-end code, were flagged by a developer known as “cygaar.” In contrast, Coinbase executive Conor Grogan noted that TRUMP appears to have been created by professional market makers, unlike MELANIA, which seems less polished.
The TRUMP token, launched earlier by Fight Fight Fight LLC, initially generated significant hype and achieved a market cap of $74.59 billion. However, since the release of MELANIA, its value has declined steeply, reaching as low as $38 before stabilizing slightly. Market sentiment suggests that the release of MELANIA may have fragmented the community, contributing to TRUMP’s downturn.
These memecoin launches coincide with Donald Trump’s presidential inauguration on Jan. 20, fueling speculation that their timing aligns with the Trump family’s political profile. While supporters have embraced the tokens, critics remain skeptical of their intentions and execution. Kevin McCordic, Director of Growth at Monad, questioned the rationale behind launching a second token so close to the first.
As the TRUMP token struggles to recover and MELANIA gains momentum, the market is left to assess the long-term viability of these projects. With their success closely tied to the Trump brand, only time will reveal their true impact.
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