Melania Trump’s sudden entry into the crypto space is making waves. In less than two hours after its launch on January 19th, their self-named memecoin MELANIA grew to a market value of $6 billion. However, the debut sparked both enthusiasm and skepticism.
A fast growing token
According to statistics from DEXScreener, over 45,000 wallets adopted it within minutes of the token’s launch. Its market value shot up to $6.14 billion in less than two hours, showing the strong appeal of a cryptocurrency bearing the Trump name.
TRUMP coin down today. Source: CoinMarketCap
At the same time, Donald Trump’s memecoin TRUMP suffered a serious blow. It was reported on CoinMarketCap that the price of TRUMP suddenly plummeted by 25%; In just 40 minutes, $5 billion was wiped off the valuation.
Whether this collapse is due to divided interests or larger market forces is impossible to determine, although the timing is difficult to ignore.
The official Melania meme is live!
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
– MELANIA TRUMP (@MELANIATRUMP) January 19, 2025
Questions about token distribution
While MELANIA’s rise seemed impressive, concerns about its tokenomics quickly surfaced. The official website says the tokens were distributed as follows: 35% to the project team, 20% each to the Treasury and the community, 15% to the public and 10% for liquidity.
JUST IN: 🇺🇸 $MELANIA’s bubble map does NOT match the distribution on her website pic.twitter.com/Q734sd4ykJ
— Bubblemaps (@bubblemaps) January 19, 2025
These figures have been disputed by blockchain analysis group Bubblemaps, which noted in a post on X on January 19 that about 90% of the token supply is held in a single wallet. This concentration calls centralization and transparency into question.
Rushed start and mixed reactions
The MELANIA launch seems to have been rushed. Experts have pointed out that the project’s website lacks cybersecurity measures as it was only created a day before its launch. The site’s poorly written code was noticed by an anonymous developer named “cygaar,” who described it as “half-baked.”
I suspect that this token was managed by a team other than TRUMP’s. This one looks like professional market makers, this one honestly looks like a college kid pic.twitter.com/UR9Cbm0Ncw
– Conor (@jconorgrogan) January 19, 2025
Coinbase CEO Conor Grogan suggested that MELANIA may not be a scam, but it likely lacked the skillful execution seen with TRUMP’s token. In his opinion, the token looks amateurish compared to Trump’s token.
Trump’s name at the center of speculation
Melania promoted the token on Despite this caveat, the Trump name has once again sparked interest from both crypto enthusiasts and speculators.
MKT World LLC, a company founded by Melania in 2021, is associated with the intellectual property rights to MELANIA’s website. The project also shares an address with the Trump International Golf Club.
What’s next for MELANIA?
There are still concerns about the authenticity of the memecoin and the motivations behind its release. Only time will tell whether MELANIA can maintain its pace or whether it is destined to follow the boom-and-bust pattern of many other memecoins given the energy that has driven its unexpected rise. Currently, Trump’s latest venture is marked by both excitement and skepticism.
Featured image from AP News, chart from TradingView