The launch of Melania Trump’s meme coin, $MELANIA, overshadowed the previously launched $TRUMP coin by President-elect Donald Trump, causing $TRUMP’s value to drop by 40%.
Announced on Melania’s profile and retweeted by her husband, $MELANIA initially surged to a fully diluted valuation of $5.69 billion but remained highly volatile. The token allocates 45% of its supply for public distribution and liquidity, while team tokens will vest over 13 months with monthly distributions.
Following $MELANIA’s debut, $TRUMP’s price fell from $73 to $38, with its market cap losing $7.5 billion in just 10 minutes. Despite the decline, $TRUMP remains highly profitable, with a current market capitalization of $33 billion, up 7,000% from its launch price.
Peoplesmind
