Two days after President-elect Donald Trump potentially generating tens of billions of dollars with his latest memecoin on the Solana chain, First Lady Melania Trump launched her memecoin.
Reportedly, the Trump family became crypto billionaires this weekend. This has resulted in raising concerning questions about the boundaries between the Trump family’s official political roles and their personal profits.
With more than 22,000 wallets holding this memecoin as of today, according to Solscan. Is the Melania memecoin a wise investment considering the present market sentiments? In this article, we understand more about the latest Solana-based memecoin and its fundamentals.
Melania Coin Crypto Hits $1.6 Billion Market Cap!
Reportedly, Melania meme coins are a digital collectible that intends to function as an expression of support. Moreover, it aims to engage with the values symbolized by the character “MELANIA”.
As per its official website, the Melania meme coin is not political propaganda and has no connection or contract with any political campaign, political party, or government agency in any manner.
With a trading value of $11.36, this memecoin has surged over 53% within hours of its launch. Moreover, with a market cap of $1.599 billion, it has secured a position in the top 100 cryptocurrencies by valuation. Notably, it has a total supply of 1 billion MELANIA tokens.
The project has planned a 13-month full vesting unlock of its team token. Reportedly, 20% is allocated to the community, 20% to the treasury, 35% to team vesting, 15% to public distribution, and 10% to liquidity.
Melania Coin Crypto Causes A Trump Token Dump!
As per the latest on-chain data. Following the launch of First Lady Melania Trump’s new meme coin “MELANIA”, Donald Trump’s OFFICIAL Trump memecoin took a nose dip. Reportedly, his memecoin witnessed a crash of over 40% post-launch of the MELANIA crypto.
This resulted in chaos as traders experienced a FOMO-like situation. Following this, the Melania token gained momentum and soared over 80% in less than 24 hours.
However, marketers speculate this to be a pump-and-dump scheme as a similar situation was recorded during the election campaign. This has resulted in top analysts raising a red flag about the core fundamentals and transparency of the Trump family’s latest launch.
How High Will Melania Memecoin Go?
This memecoin is relatively new in the crypto space and is highly volatile due to numerous external factors. Furthermore, considering the current market sentiment, it has become an internet sensation, resulting in it experiencing a massive shift in its trading volume.
Notably, Fundamentally strong updates, whitepaper, and roadmap release could potentially push the price of Melania memecoin much higher post the oath-taking ceremony of Donald Trump.
On the contrary, a promotional strategy or a pump-and-dump scheme could not be ignored as the cryptocurrency market has experienced countless such situations since its mass adoption. Under such a situation, the TRUMP tokens could record a catastrophic decline within a short period.
FAQs
The Melania coin is available for trading on Bitget and top Solana pairs such as Jupiter, Orca, Raydium, and Solana.
Yes, the MELANIA memecoin is available for trading on the Coinbase platform.
Considering the present market sentiments, it is too early to predict the reliability of the memecoin as this project is yet to release its roadmap.
Both Trump coin and Melania Memecoins are available for trading on most crypto exchanges and Solana pairs.
