Synopsis
TRUMP meme coin saw a 53% decline after Melania Trump launched her own coin, MELANIA, which surged in value to $12 billion. TRUMP’s market cap dropped significantly, and Shiba Inu reclaimed its spot. Both coins are built on the Solana blockchain, gaining value from community interest. MELANIA’s token distribution raised concerns about transparency.
TRUMP, the official meme coin of President-elect Donald Trump, saw its value drop by over 50% after Melania Trump introduced her own meme coin, MELANIA.
TRUMP reached an all-time high of $75.35 within the past 24 hours but was trading at $53.40 at 10:55 am, with a day’s low of $35, reflecting a 53% decline. This sell-off erased nearly $5 billion from its market value, which peaked at approximately $15 billion earlier in the day.
The sharp decline pushed TRUMP out of the top two meme coins by market capitalization, as Shiba Inu (SHIB) reclaimed the second spot. Earlier in the day, TRUMP had surpassed both SHIB and PEPE to rank among the top meme coins.
Crypto Tracker
TOP COIN SETSCrypto Blue Chip – 515.59% BuyBTC 50 :: ETH 5011.94% BuyDeFi Tracker7.06% BuyAI Tracker6.92% BuyNFT & Metaverse Tracker3.62% BuyTOP COINS (₹) Ethereum294,479 (4.24%)BuyBitcoin9,399,661 (3.32%)BuyXRP278 (1.16%)BuyTether87 (0.27%)BuySolana22,353 (-6.29%)BuyMeanwhile, Melania Trump launched her own meme coin MELANIA on Monday. The Solana-based meme coin rapidly achieved a valuation of $12 billion within three hours of its launch.
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View Details »Also Read: Melania Trump launches her own meme coin following Donald Trump’s crypto move
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Like her husband’s coin, Melania’s memecoin is built on the Solana blockchain. These types of cryptocurrencies gain their value from community interest and engagement, a trend that has been growing in the crypto space.
The project’s official website indicates the token’s allocation as 35% to the team, 20% each to the treasury and community, 15% to the public, and 10% to liquidity. However, Bubblemaps revealed that 89% of the token supply was initially held by one wallet before being split into four, a distribution inconsistent with the website’s information.
UPDATE:
the original 89% address (GtdNP) has been split into four main wallets holding 30%, 30%, 20%, and 6%
check the map below for LIVE updates ↓ https://t.co/w7I7BwO8I8 pic.twitter.com/YrwOU4qWkY
— Bubblemaps (@bubblemaps) January 19, 2025
At 10:58 am IST, MELANIA was trading at $10.37, marking a surge of over 42% within a few hours of its launch.
Also Read: How to buy Melania Trump’s $MELANIA Meme Coin: A step-by-step guide
On Friday, Donald Trump had promoted his TRUMP meme coin with enthusiasm, posting on Truth Social, “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW.”
My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR $TRUMP NOW. Go to https://t.co/GX3ZxT5xyq — Have Fun! pic.twitter.com/flIKYyfBrC
— Donald J. Trump (@realDonaldTrump) January 18, 2025
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