Melania Trump launched a new memecoin after her husband’s TRUMP token reached a peak valuation of $15 billion, only to drop by nearly 40%.
Donald Trump’s controversial memecoin saw a 38% decline, while his wife, Melania Trump, introduced her own memecoin, MELANIA, which quickly gained a $6 billion valuation in under two hours.
On January 19, Melania Trump promoted her token in an X post, which was also shared by her husband. According to DEXScreener, more than 45,000 wallets had purchased the token, pushing its market cap to $6.14 billion since its launch shortly after 9 p.m. UTC.
Meanwhile, the TRUMP token saw a significant loss of $5 billion in market cap, with its price dropping from $74.6 to $45.9 in just 40 minutes, as reported by CoinMarketCap data shows.
The MELANIA token’s website, shared by Mrs. Trump, stated that the coin was created to express “support” and “engagement,” clarifying that it was “not intended” as an investment opportunity. The distribution breakdown showed that 35% of the tokens went to the team, 20% to the treasury and community, 15% to the public, and 10% to liquidity.
However, blockchain analytics platform Bubblemaps pointed out in a January 19 X post that nearly 90% of the token supply resides in a single wallet, which does not align with the stated distribution plan.
Coinbase executive Conor Grogan commented on X that while it’s “unlikely” the MELANIA token is a rug pull, it may have been launched by a less organized team compared to the one behind the TRUMP token.
