Melania Trump’s meme-coin collapsed the value of the TRUMP token

Note: not an investment advice!

The launch of the MELANIA token, initiated by Melania Trump, caused a sharp decline in the price of the TRUMP token, which is associated with Donald Trump. According to CoinMarketCap, the price of TRUMP fell by more than 30%, and the market capitalization decreased by $ 5 billion. Meanwhile, MELANIA reached a market capitalization of $ 6 billion in just two hours after its launch.

The new MELANIA token was presented as a means to support and engage the community, but analysts have identified a number of transparency issues. The Bubblemaps platform found out that 90% of MELANIA tokens are stored in a single wallet. In turn, this raised doubts about the fair distribution of assets. A hasty approach to development was also noted, as the project’s website was registered only the day before the launch.

The launch of MELANIA took place against the backdrop of growing interest in meme coins, including TRUMP. At the same time, activity on the Solana blockchain SOL $256.44 Solana -10.52% Market capitalization $124.78 billion VOL. 24 hours $5.74 billion , on which both tokens are based, has increased. This has also led to an increase in the popularity of NFT collections such as Mad Lads, which has increased the overall interest in the Solana ecosystem.

The cryptocurrency market continues to react to such events, showing significant price fluctuations. TRUMP remains an important asset, although competition from MELANIA creates new challenges and opportunities for investors.

The No Worries editorial team strongly advises readers not to invest their own funds in dubious crypto projects and little-known digital assets!