MELANIA Meme Coin: Issues and Controversy

user avatar

by Giorgi Kostiuk

2 years ago

Messari founder Ryan Selkis urges President-elect Donald Trump to dismiss the team behind the MELANIA meme coin due to poor execution and financial implications for Trump.

Meme Coins Market Collision

On January 19, Selkis criticized the MELANIA project launch on X, noting it led to the TRUMP token’s value dropping by 50%, resulting in substantial financial losses.

Launch Criticism

Following its debut, TRUMP's market value hit $15 billion, threatening to become one of the top ten cryptocurrencies by market cap. However, after MELANIA's unveiling, TRUMP declined from $75 to about $38. Selkis voiced frustration over the lack of crypto-native expertise within Trump’s advisory circle.

He expressed willingness to help the new administration avoid similar mistakes in the future.

Greed Suspicions

Delphi Labs founding partner José Maria Macedo speculated that MELANIA's launch was driven by greed. He cited the token's unusual economic model and suspicious trading activities as potential supporting evidence.

The MELANIA meme coin situation highlights criticism and suspicions regarding insufficient expertise and potential vested interests, emphasizing the importance of thorough analysis and transparency in crypto initiatives.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Project Eleven and Quantus Collaborate on Strongpoint for Future Crypto Custody

Project Eleven has partnered with Quantus to enhance crypto custody solutions through the integration of the Quantus Network into Strongpoint, targeting support for post-quantum cryptography by Q1 2027.

user avatarRajesh Kumar

Sui and Alibaba Cloud Collaborate on AI Agent Payment Integration

Sui and Alibaba Cloud are developing a payment model for AI agents to autonomously pay for cloud services using stablecoins.

user avatarLucas Weissmann

Moscow Exchange to Launch Cryptocurrency Trading on December 1

Moscow Exchange is set to begin offering cryptocurrency trading on December 1, 2023, following a new regulatory framework in Russia.

user avatarFilippo Romano

OSL Group Launches Tokenized USDGO Plus SP Fund

OSL Group has successfully tokenized the USDGO Plus SP fund, providing custody and distribution through its licensed platform in Hong Kong.

user avatarEmily Carter

PowerCompute Increases Bitcoin Production While Reducing Debt

PowerCompute mined 81 BTC in September 2023, a 37 BTC increase from last year, while reducing its secured debt from $237 million to $125 million.

user avatarKaterina Papadopoulou

NextBlock Fully Funds Soda Labs' Seed Round with $3 Million Investment

NextBlock has invested $3 million in Soda Labs, fully funding the company's seed round to develop privacy infrastructure for financial applications.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.