Over the weekend, the $TRUMP memecoin, which had captivated the crypto world with its meteoric rise, faced a sharp 40% dip in value on Sunday.
The drop followed a social media post of a new memecoin dedicated to his wife, Melania, called $MELANIA.
The post was first published on Melania’s profile and the retweeted by the President-elect himself.
The token’s value skyrocketed, reaching a fully diluted valuation of $5.69 billion, as per DEXscreener, though its price remains highly volatile.
Of the total supply, 45% was allocated to the community for public distribution and liquidity provision on decentralized exchanges. The remaining supply is split between the project treasury, which holds 20%, and the team, receiving 35%.
Unlike the Trump token, this project allocates fewer tokens to insiders, but the vesting schedule is significantly shorter. Team tokens will vest over a 13-month period, with monthly distributions rather than daily ones, and a 30-day initial scale.
Melania Trump’s token launch has drawn attention away from her husband’s memecoin. Official Trump (TRUMP) saw its price plunge from $73 to $38, briefly recovering to $52 before falling again to $42 at the time of writing.
Despite the decline, $TRUMP remains a staggering 7,000% higher than its initial launch price on Friday, generating significant theoretical wealth for the President-elect, amounting to billions.
Currently, $TRUMP boasts a market capitalization of approximately $33 billion, solidifying its position as a major player in the evolving world of memecoins.
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