Yigit Taha OZTURK 
Solana users faced network difficulties following the recent memecoin launches by US President-elect Donald Trump and his wife, Melania. Trump’s advisory team launched the Official Trump (TRUMP) memecoin on January 18 and the Official Melania (MELANIA) token on January 19 on the Solana network.
The launch of Trump and Melania’s tokens brought significant trading volume to Solana, causing network congestion. Solana’s blockchain explorer had not reported any new transactions up until 9:43 PM UTC on January 19. Users also reported “500 Internal Server Errors” while transacting on Solscan.
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Solana’s Challenges and Rising Concerns
A major outage in February 2024 forced Solana validators to restart the network after block production stalled. However, Solana claims to have maintained 100% uptime over the past 90 days with no outages since February 6, 2024.
Memecoin Distribution and Investor Concerns
The Trump family’s memecoins gained mainstream attention, but their token allocations have raised red flags for investors. The MELANIA token website claimed that 35% of the tokens were allocated to the team, 20% to both the treasury and the community, 15% to the public, and 10% for liquidity. However, blockchain analytics platform Bubblemaps stated that nearly 90% of the token supply was in a single wallet, not matching the claimed distribution.
TRUMP Token’s Market Performance
Trump’s TRUMP token saw a $5 billion drop in market cap within 40 minutes after the launch of MELANIA, with its price falling by 38% from $74.6 to $45.9. As of 9:08 AM UTC, the TRUMP token was trading at $57.50, down 3.3% in the past 24 hours.
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