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

Strategy's Dual Approach: Bitcoin Acquisition and Preferred Share Repurchase

On November 9, Strategy announced the acquisition of 1,036 additional Bitcoin alongside the repurchase of approximately 188 million STRC preferred shares.

user avatarMaya Lundqvist

Bitcoin Slips Toward $74,000 After Fed Governor Signals December Rate Hike

Bitcoin's value has dropped significantly, approaching the $74,000 level, as Federal Reserve Governor Christopher Waller voiced clear support for raising interest rates at the upcoming December FOMC meeting.

user avatarLeo van der Veen

MARA Reports Significant Bitcoin Sales and Loan Repayment

MARA disclosed significant Bitcoin sales and loan repayment, marking a strategic shift from holding to monetizing reserves.

user avatarLi Weicheng

US Spot Ether ETFs Face Major Withdrawals on November 9

On November 9, US spot Ether ETFs experienced significant net withdrawals totaling $1.846 billion, primarily driven by BlackRock's ETHA, reflecting ongoing investor concerns about market conditions.

user avatarAisha Farooq

Crypto Firms Rally Behind CFTC in Perpetual Futures Legal Battle

Coinbase, Kalshi, and four other companies filed an amicus brief supporting the CFTC's authority to regulate perpetual futures tied to US stocks amid a significant lawsuit.

user avatarBayarjavkhlan Ganbaatar

CMAA Challenges CFTC's Authority Over Perpetual Futures

The Capital Markets Alliance Association (CMAA) has filed a lawsuit against the Commodity Futures Trading Commission (CFTC), claiming that perpetual futures should be classified as security-based swaps, which would impose stricter regulations.

user avatarTenzin Dorje

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.