The MELANIA memecoin, launched by the US First Lady Melania Trump, achieved a $4 billion market cap within the first 30 minutes of its launch, leading to a significant drop in Donald Trump's memecoin value.
Launch of Melania's Memecoin
The new MELANIA memecoin was announced via Melania Trump's Twitter account, which has 3.2 million followers. Donald Trump also retweeted the message, adding further attention.
Market Reaction and Impact on Trump's Token
Following the launch of the new memecoin, the market cap of Donald Trump's 'OFFICIAL TRUMP' token decreased by $5 billion. According to CoinMarketCap and DEXScreener data, MELANIA quickly gained popularity.
Objectives and Distribution of Melania's MEME Tokens
The memecoin was created to 'support' and 'engage' with Melania's audience and is not intended as an investment opportunity. The token distribution is planned as follows: 35% to the team, 20% to treasury and community, 15% to the public, and 10% to liquidity.
The launch of Melania's memecoin marked a significant event in the cryptocurrency market, causing substantial changes in the capitalization of other similar tokens and raising interest in memecoins as a phenomenon.
