Melania Trump's Memecoin MELANIA Surges by 22,000%

user avatar

by Giorgi Kostiuk

2 years ago

Melania Trump made waves in the crypto world on January 19 by launching her self-titled memecoin MELANIA, achieving a $1.5 billion market cap in just 9 hours.

Launch of MELANIA Memecoin

The MELANIA memecoin, launched by Melania Trump, quickly reached impressive market success. The token's price hit $11.85, representing a 22,000% increase since its launch. Promoted via an X post, over 45,000 wallets acquired the token within the first hour.

Market Reaction

The debut of MELANIA negatively impacted the TRUMP token, which saw its price drop by 38% in 40 minutes, reducing its market cap by $5 billion. This event occurred a day before Donald Trump's inauguration, creating an interesting rivalry within the Trump family.

Criticism and Implications

Despite its success, questions about the project's transparency arose. Platform Bubblemaps pointed out that 90% of MELANIA tokens are held by a single wallet, raising concerns. Additionally, some experts noted the project's lack of professional planning and the insecure website, registered shortly before the ICO start. The website belongs to MKT World LLC, a company associated with Melania Trump since 2021.

The launch of the MELANIA memecoin left a significant mark on the crypto market but raised concerns about the project's transparency and security, requiring investors' attention.

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

Tokenized Asset Compliance Faces Practical Challenges

The announcement from Further Asset Management highlights significant challenges in the practical implementation and legal interpretation of compliance rules for tokenized assets.

user avatarLucas Weissmann

Chainlink Introduces CustodySync to Enhance Institutional Lending

Chainlink has launched CustodySync in collaboration with Anchorage Digital to synchronize information between custodians and decentralized lending protocols, facilitating institutional borrowing while ensuring compliance with custody regulations.

user avatarFilippo Romano

Uniswap Developer Analytics: A New Tool for Enhanced User Engagement

Uniswap Labs has launched Developer Analytics, a new feature for developers to analyze requests, error counts, and transaction volumes, aimed at improving user retention and overall developer experience.

user avatarEmily Carter

Uniswap Labs Introduces Developer Analytics to Enhance Dashboard Experience

Uniswap Labs has launched Developer Analytics on October 28, 2023, adding new reporting features to its developer dashboard to enhance the developer experience.

user avatarTomas Novak

Bitcoin ETF Outflows Show Contrasting Trends as October Ends

US spot Bitcoin funds faced significant withdrawals at the end of October, with BlackRock's fund attracting nearly $1 billion in net inflows, highlighting contrasting trends in investor demand.

user avatarKaterina Papadopoulou

Theft of iPhone Leads to Significant Financial Loss for Cryptocurrency Executive

Theft of iPhone leads to significant financial loss for cryptocurrency executive Magnus Ahmad, who lost approximately $14,000 after his unlocked device was stolen, resulting in unauthorized access to his financial accounts.

user avatarMaya Lundqvist

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.