Yigit Taha OZTURK 
The incoming U.S. First Lady, Melania Trump, launched the Melania Meme Coin ($MELANIA) on the Solana blockchain platform. This development caused a significant drop in the price of the Trump Meme Coin ($TRUMP), launched two days earlier by her husband, Donald Trump, and raised concerns among crypto executives regarding the potential harm meme coins might pose to the market.
Highlights of MELANIA Coin
$MELANIA was announced by Melania Trump’s team on Sunday, along with a link to a website where the coins could be purchased. As of Monday morning, $MELANIA was trading at approximately $11.22, with a market cap of $2.15 billion. This valuation places the coin among the top 60 most valuable cryptocurrencies globally.
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The coin is distributed on the Solana blockchain by MKT World, a Florida-based company incorporated by Melania Trump in 2021. While details about the project are limited, the website states that 35% of the supply has been allocated to the team and will remain locked for the first 30 days.
What is the Purpose of MELANIA?
The purchase link shared by Melania Trump includes a disclaimer, stating that the coin is a “digital collectible intended to function as an expression of support for and engagement with the values represented by Melania and the associated artwork.” The statement also clarifies that the coin is not intended as an investment opportunity or security of any type.
Impact on TRUMP Coin
Following the launch of $MELANIA, the price of the $TRUMP Coin, launched by Donald Trump last Friday, dropped nearly 40% to around $35. On Sunday, $TRUMP had peaked at a market cap of $15 billion, but this value fell below $8 billion after $MELANIA was launched. However, the cryptocurrency managed to recover early Monday after Robinhood announced that $TRUMP was “now available for trading” on its platform. As of Monday morning, $TRUMP was trading at $53.12, giving it a market cap of $10.62 billion and placing it as the 18th most valuable crypto by market cap.
What Do We Know About TRUMP?
Donald Trump announced his meme coin’s launch in a Truth Social post on Friday night, stating: “My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING!” The coin’s price surged overnight, more than tripling by Saturday morning, and briefly surpassed $75 early Sunday. The project’s website notes that 200 million tokens were initially released, with the total supply expected to gradually grow to 1 billion over the next three years. The remaining 800 million tokens are currently held by Trump Organization affiliates CIC Digital LLC and Fight Fight Fight LLC, which was incorporated in Delaware on January 7.
As of Monday morning, a total of 450,653 crypto wallets were reported to hold $MELANIA, according to the Solscan tracker.
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