Melania Trump’s $MELANIA coin launch sparked chaos, tanked $TRUMP’s value, and raised pump-and-dump and shady ownership concerns.
Melania Trump just launched her own meme coin, $MELANIA, and it’s already a wild ride. This comes two days after Donald Trump dropped his $TRUMP coin, which hit a crazy $19 billion market cap. But it wasn’t all so happy for long.
Once $MELANIA was released, the traders freaked out. The hype was well and truly real, with $TRUMP’s price nosediving, literally losing $7.5 billion in 10 minutes. Meanwhile, $MELANIA pumped to $17 on the market, reaching a market capitalization of $5 billion before falling back down to $7. It’s now sitting at $2 billion, with traders scratching their heads.
Crypto analysts are saying this is a pump-and-dump nightmare. One dude even posted on X, formerly known as Twitter, his desk shattered, saying he lost everything trading $MELANIA.
It turns out 90% of the $MELANIA is owned by one wallet. Red flag much? The critics are slamming the Trump family for cashing in at the investors’ expense. Even for the Trump supporters, a few are giving a negative side-eye to this move, adding now is not the time for a meme coin.
Still, over 22,000 wallets hold $MELANIA, and people are waiting for updates, hoping for a whitepaper or roadmap. TL;DR: This crypto drama isn’t over, but tread carefully—it’s looking sketchy AF.
Also Read: Dan Tapiero Predicts Crypto Market Will Reach $10 Trillion by 2025