Many people in the crypto community are upset when the Trump family announced 2 memecoins in just 72 hours.
TRUMP Price Drops 50% After Melania Launches Own Memecoin
On the morning of January 20, 2025, the new First Lady of the United States, Melania Trump, announced on her personal social media accounts that she would launch her own memecoin with the code MELANIA.
MELANIA is a memecoin on Solana with a total supply of 1 billion units. Of these, 15% is issued directly to the community, 10% is reserved for liquidity on DEXs, the community is allocated another 20%, while the project retains 20% for the treasury fund and 35% is locked for the team.
Although it has a higher community allocation rate than TRUMP, MELANIA has a shorter team token lockup period as it starts unlocking after 1 month, then continues to pay out tokens regularly for the next 13 months.
MELANIA Token Allocation. Source: melaniameme.com
Both Trump tokens have similar website designs, as well as claiming that they are purely for meme culture with no political motives behind them.
The token is rapidly skyrocketing, with its diluted market capitalization (FDV) at one point reaching $13 billion.
Immediately after Melania’s announcement, the price of memecoin Official Trump (TRUMP) crashed from $70 to $38, before recovering to $48 at the time of writing.
Crypto community expressed disappointment
Most of the opinions in the cryptocurrency community are surprised by the continuous memecoin issuances of the Trump side.
Some people think that the initial move to issue TRUMP on Solana was really “smart”, as shown by the success of this memecoin when it reached a capitalization of tens of billions of USD just a few hours after its launch and was warmly received by the community, but that reputation has “gotten down the drain” for MELANIA. Having two memecoins at the same time will dilute each other’s value, as shown by the fact that MELANIA’s current capitalization is almost equal to the capitalization that TRUMP just lost.
Conor Grogan, a director of Coinbase and an on-chain analyst, said that the two memecoins TRUMP and MELANIA are operated by two different teams. While TRUMP is deployed in a professional and systematic manner, MELANIA seems to be managed by a group of “amateurs” when the wallet address that deployed the token was traded on pump.fun, and it is not even a wallet.multisig for enhanced security.
Melania’s website looks like it was just set up yesterday and doesn’t even use Cloudflare for DDOS protection.
In addition, it was discovered that the actual circulating supply of MELANIA is only 10% of the total supply, different from the number announced on the website, while the project wallet holds up to 89% of the tokens.
The Trump family’s recent “inflating” actions have even made some rethink their claims that the crypto industry is full of scams.Gary Gensler, who has resignation notice on the first day of Mr. Trump’s presidency, that the SEC Chairman might said right.
Someone even shared the Trump family tree in preparation for other possible memecoin releases in the future.
Trump’s eldest son, Eric Trump, announced that the DeFi project he advises, World Liberty Financial, is about to make another move after buying up to $20 million in ETH on the evening of January 20.
In addition, the timing of the token deployment also raises questions about the motives behind it, as it was all done just days before Donald Trump was sworn in as President of the United States on January 20, 2025 (US time), a position that is arguably the most important in the world and requires seriousness and formality, which has been somewhat affected now that the White House owner owns his own memecoin.
The Trump family’s massive token launch may also be because they do not want to wait until after the inauguration, when the President will be prohibited from abusing his power for personal gain and face the risk of being used as an excuse for impeachment by the opposition.
