Melania Trump, the incoming First Lady of the United States, has followed in the footsteps of her husband, Donald Trump, by launching a Solana-based meme coin.
Melania unveiled the meme coin in an X post yesterday. The incoming First Lady of the United States debuted her meme coin days after Trump launched his meme-based cryptocurrency, Official Trump (TRUMP).
TRUMP’s Meme Coin Plunges Amid MELANIA’s Launch
As reported earlier, TRUMP’s price skyrocketed tremendously, soaring to a valuation of $9 billion within three hours of its launch. Following its listing on leading crypto exchanges like Binance and KuCoin, TRUMP rose to a market cap of $14.92 billion yesterday, with its price hitting an all-time high (ATH) of $75.35.
However, MELANIA’s launch negatively impacted TRUMP’s price, leading to its 50% drop to around $38. While TRUMP’s price dropped, MELANIA soared in value, hitting a peak valuation of $1.8 billion. Its price also rose to an ATH of $13.19.
Expectedly, it encountered a significant pullback, leading to a sharp decline to around $9. Currently, MELANIA is trading at $9.34, representing an increase of 32.55% from its all-time low (ATL) of $6.62.
Top Exchanges Announce Listing for MELANIA
Following the launch of MELANIA, several centralized crypto exchanges announced the token’s listing on their platforms. They include Gate.io, MEXC, Bitget, BitMart, BingX, HTX, LBank, and CoinEx.
These centralized exchanges listed the Melania meme coin under the MELANIA/USDT trading pair. The listings contributed to MELANIA’s trading volume surge, which currently stands at $2.2 billion. KuCoin has also announced MELANIA’s listing, with trading scheduled to commence today at 06:00 (UTC).
📢 New Listing
Melania Meme $MELANIA Gets Listed on #KuCoin!
💎Pair: MELANIA/USDT
💎Deposit: now open (network: SOL-SPL)
💎Trading: 06:00 on January 20, 2025 (UTC)— KuCoin (@kucoincom) January 20, 2025
In the meantime, other leading crypto exchanges like Binance are yet to list the meme coin owned by the incoming U.S. First Lady. Recall that Binance joined other centralized exchanges to list TRUMP, listing the token with a Seed Tag (ST).
MELANIA Tokenomics
Like the TRUMP meme coin, MELANIA has a dedicated website that reveals its tokenomics. Of the 1 billion max supply, 35% is allocated to the team, 20% to the community, 20% to the treasury, 15% to the public offering, and 10% to liquidity.
According to the model, the team’s share of 35% will be locked for 30 days. Afterward, 10% of the team’s allocation will be unlocked on Day 30. This represents 3% of MELANIA’s total supply. The remaining allocation will be unlocked linearly within 2-13 months. Currently, MELANIA has a circulating supply of 162.21 million tokens.
However, the decision to offer only 15% of the total supply to the public has raised eyebrows in the crypto community.
Another Trumpa Tuah!!
Until people learn not to buy shitcoins or are dried out https://t.co/6lYhlTX6c4— ₿itcoinio ⚡️ (@TheBitcoinio) January 19, 2025
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
