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It was a wild Sunday night in the crypto world. Donald Trump’s official meme coin, TRUMP, took a nosedive, all thanks to a bombshell post from Melania Trump. The former First Lady decided to toss her hat into the crypto ring, launching a token tied to her name. Naturally, chaos ensued.
The Melania Coin Mania
Melania Trump took to social media to announce her entrance into the blockchain party. Her X account (formerly Twitter) declared, “The Official Melania Meme is live,” a sentiment that Donald Trump himself retweeted. The announcement was also plastered across her Truth Social account for maximum reach.
Read Also: Is Trump Coin Still Worth Buying?
And boy, did it work. The newly christened Melania token, running on the Solana blockchain, skyrocketed over 12,000% in just 24 hours, hitting $6.70, according to DEX Screener data. Forget subtle market moves—this token made a grand entrance.
Tokenomics Makes Sense?
The Melania Meme token’s webpage outlines the following distribution plan:
- 35% for team vesting over 13 months (starting with a 30-day lock and gradual monthly unlocks).
- 20% for treasury funds.
- 20% for community initiatives.
- 10% reserved for the liquidity pool.
- 15% for public distribution.
The project positions itself as a collectible digital asset, steering clear of promises about financial gains. The FAQ section bluntly states, “This token is for entertainment and collecting purposes only. It’s not an investment or financial instrument.” A stark contrast to Trump’s TRUMP token, which features daily vesting periods.
Read Also: Donald Trump’s Crypto Wallet
One standout thing here though, is that just like TRUMP coin’s 10% public distribution, Melania coin isn’t fairing much better. The standard way to do tokenomics is to release as much token to the community, out of the dev team’s hands. This ensures that the team behind the token doesn’t just rug pull on ya. Hence, we don’t quite see the reason behind such unfair split. At the same time, it is unlikely that the U.S. President’s team will go rogue on their meme coins.
Timing is Everything
Melania’s move comes just days before President-elect Trump’s January 20 inauguration. Trump has big crypto plans, vowing to establish a Bitcoin reserve and create a regulatory utopia for digital assets. But for now, his TRUMP token is struggling. It’s down 32% in six hours, slipping from $77 to $45, according to CMC.
The Solana Network Struggles to Keep Up
The Melania launch added fuel to an already overloaded Solana network. Phantom Wallet, a popular Solana self-custodial wallet, reported over 8 million requests per minute, causing transaction delays. “We’re working to stabilize our platform, but transactions may take multiple tries,” Phantom posted.
Moonshot, a Solana-based meme coin launchpad, also faced turbulence. “High traffic is causing some swaps to fail. Please retry,” the team said.
Even Helius Labs’ CEO, Mert Mumtaz, jumped in to calm the storm. “The Solana chain is live and producing blocks. Some apps aren’t adjusting fees properly, leading to unnecessary congestion,” Mumtaz clarified.
Market Madness
As Melania’s coin climbed, the broader crypto market faltered. Bitcoin dipped back to $100,000, and Dogecoin slipped 11% over the last 24 hours. Meanwhile, TRUMP token’s supporters are left scratching their heads as the First Couple’s crypto ventures go head-to-head.
Melania Trump’s bold entry into the meme coin space has thrown a curveball into the market. Whether this is a fleeting fad or a strategic masterstroke remains to be seen, but one thing is clear: the Trumps have turned crypto into their newest battleground.
