Trump’s Memecoin Crashes As Wife Launches Her Own Crypto Coin
A meme coin recently launched by US President-elect Donald Trump has crashed by 40% in value.
The coin $TRUMP decreased in value on Sunday shortly after a new meme coin, $MELANIA, was launched by his wife, Melania.
The launch of $MELANIA was first published on Melania’s profile and retweeted by the President-elect himself.
She wrote: “The Official Melania Meme is live! You can buy $MELANIA now.”
The token’s value skyrocketed, reaching a fully diluted valuation of $5.69 billion, as per DEXscreener, though its price remains highly volatile.
Of the total supply, 45% was allocated to the community for public distribution and liquidity provision on decentralized exchanges. The remaining supply is split between the project treasury, which holds 20%, and the team, receiving 35%.
Unlike the Trump token, this project allocates fewer tokens to insiders, but the vesting schedule is significantly shorter. Team tokens will vest over 13 months, with monthly distributions rather than daily ones, and a 30-day initial scale.
Melania Trump’s token launch has drawn attention away from her husband’s memecoin. Official Trump (TRUMP) saw its price plunge from $73 to $38, briefly recovering to $52 before falling again to $42 at the time of writing.
According to analysts, $TRUMP’s market cap dropped by $7.5 billion within just 10 minutes following the release of Melania’s token.
Despite the decline, $TRUMP remains a staggering 7,000% higher than its initial launch price on Friday, generating significant theoretical wealth for the President-elect, amounting to billions.
Currently, $TRUMP has a market capitalisation of approximately $33 billion, solidifying its position as a major player in the evolving world of meme coins.
