In a surprising move, incoming First Lady Melania Trump has launched her Solana-based meme coin, following closely on President-elect Donald Trump’s introduction of the $TRUMP cryptocurrency. Announced via her social media platform X, Melania’s $MELANIA token quickly garnered significant attention in the crypto community.
The $TRUMP coin experienced a meteoric rise, reaching a market capitalization of approximately $14.92 billion and an all-time high of $75.35. However, the introduction of $MELANIA led to a sharp 50% decline in $TRUMP’s value, bringing it down to around $38. Conversely, $MELANIA surged to a peak valuation of $1.8 billion, with its price hitting an all-time high of $13.19 before stabilizing around $9.34.
Following its launch, several centralized crypto exchanges, including Gate.io, MEXC, Bitget, BitMart, BingX, HTX, LBank, and CoinEx, listed the $MELANIA token under the MELANIA/USDT trading pair. These listings contributed to a trading volume surge, currently at $2.2 billion. KuCoin also announced plans to list $MELANIA, with trading scheduled today at 06:00 UTC.
The $MELANIA tokenomics reveal a total supply of 1 billion tokens, allocated as follows: 35% to the team, 20% to the community, 20% to the treasury, 15% to the public offering, and 10% to liquidity.
The team’s 35% share is locked for 30 days, with a gradual release over the following months. However, the decision to offer only 15% of the total supply to the public has raised concerns within the crypto community regarding centralization and potential market manipulation.
The rapid introduction of this meme coin by the incoming First Family has sparked debates about the ethical implications and potential conflicts of interest. Critics argue that such ventures could blur the lines between personal financial interests and public responsibilities, especially given the significant insider ownership and the volatile nature of meme coins. Proponents, however, view these initiatives as indicative of a pro-crypto stance that could foster innovation and adoption in the broader digital asset space.
The launches of $TRUMP and $MELANIA have undeniably stirred the cryptocurrency market, reflecting the dynamic interplay between politics and digital assets. As the United States prepares for a new administration, the crypto community will closely monitor how these developments influence regulatory approaches and market dynamics in the coming years.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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