TRUMP Token Loses 38%

The controversial memecoin of U.S. President-elect Donald Trump dropped 38% after his wife, Melania Trump, launched her own token. The memecoin, named MELANIA, reached a market cap of $6 billion in just two hours.

Melania Trump promoted MELANIA on X (formerly Twitter) on Jan. 19, and the post was also shared by Donald Trump.

Data from DEXScreener shows that over 45,000 wallets purchased the token, pushing its total market cap to $6.14 billion shortly after its launch.

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Meanwhile, Trump’s TRUMP token saw $5 billion wiped off its market cap, dropping in price from $74.6 to $45.9 within 40 minutes, according to CoinMarketCap.

MELANIA Token’s Distribution

According to the MELANIA token website shared by Melania Trump:

• 35% is allocated to the team,
• 20% to treasury and community,
• 15% for public sale,
• 10% for liquidity.

However, blockchain analytics platform Bubblemaps claimed in a Jan. 19 post that nearly 90% of the supply resides in a single wallet, contradicting the stated distribution.

Rug Pull Unlikely

Coinbase executive Conor Grogan said that MELANIA is unlikely to be a rug pull but noted it appears less professionally managed compared to TRUMP.

Grogan pointed out that MELANIA’s creator wallet was funded via the Solana memecoin launchpad pump.fun.

Anonymous crypto developer “cygaar” added that the MELANIA website was created on Jan. 18, lacks cybersecurity measures, and features poorly written frontend code.

The intellectual property rights to melaniameme.com, used to launch MELANIA, are held by MKT World LLC, a company Melania Trump established in 2021. The firm shares an address with the Trump International Golf Club, according to Florida Department of State records. The memecoin launches occurred just one day before Donald Trump’s Jan. 20 Presidential Inauguration.

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The FCA issued a warning regarding the Solana-based “Retardio” project, citing unauthorized financial promotions and activities targeting UK consumers.

In a statement on December 16, the FCA warned that the token might be providing or promoting financial services without the regulator’s approval.

The regulator reminded consumers to transact only with FCA-approved firms to ensure adequate protection. According to CryptoSlam, the Retardio project features a Solana-based NFT collection that has achieved $31 million in total sales.

The associated memecoin, as reported by Dexscreener, is currently trading at around $0.08 with a market capitalization of approximately $87 million.

The Retardio Project Responded To The FCA

According to the FCA, UK-based users dealing with the Retardio project will not have access to the Financial Ombudsman Service, which resolves complaints between consumers and financial services firms. The regulator also stated that consumers would not be covered by the Financial Services Compensation Scheme (FSCS), which protects consumers if financial firms go bankrupt.

The FCA added, “This means it’s unlikely you’d get your money back if the firm goes out of business.”

The FCA urged citizens to deal with authorized firms. The regulator emphasized that authorized firms provide greater protection to consumers when things go wrong and suggested users check their registry to ensure the firm they are dealing with is authorized in the UK.

The government agency also encouraged reporting unauthorized firms through official channels. In a humorous response, the memecoin and NFT project said, “We’ve issued a warning about the UK’s financial regulator.”

Memecoins Represent The Value of Attention

Yat Siu, Chairman of Animoca Brands, stated that memecoins capture the value of user attention, which is different from traditional metrics on social platforms.

Siu mentioned that attention on social platforms does not transparently reflect the value of user-generated content (UGC), but memecoins work differently.

He explained that in the Web3 world, UGC culture is integrated into memecoins, with their market capitalization reflecting the value of the attention they receive.

“If attention were a token, that’s exactly what memecoins represent. So I see it as correlated between the two,” he said.

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