melania meme coin
Melania Trump's meme coin, named $MELANIA, was launched recently and has garnered significant attention in the cryptocurrency market. Here are some key points about the coin:
Launch and Platform
The $MELANIA meme coin was launched on the Solana platform, just a day after Donald Trump introduced his own $TRUMP meme coin235.
Market Performance
- The coin quickly gained a market capitalization of around $4 billion shortly after its launch, with a trading price of approximately $4 per coin15.
- However, the price has been volatile, with reports indicating a significant drop; for instance, on Raydium, the price was noted to be down by 80.04% in the last 24 hours, trading at around $3.0954.
Ownership and Distribution
- Over 88% of the $MELANIA token supply is held by a single wallet, similar to the distribution pattern observed with Donald Trump's $TRUMP token1.
Impact on $TRUMP Token
The launch of $MELANIA has had an immediate impact on the value of Donald Trump's $TRUMP token, which saw a significant drop. The $TRUMP token lost over 50% of its value in a short period and around 30-36% mid-day on Sunday following the announcement of Melania's coin135.
Trading Volume and Liquidity
The 24-hour trading volume for $MELANIA has been substantial, with reports showing volumes in the tens of millions of dollars. For example, on Raydium, the 24-hour trading volume was around $25.94 million4.
Overall, the launch of Melania Trump's meme coin has introduced another high-profile player into the meme coin market, with both coins experiencing significant volatility and market fluctuations.