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Melania Trump's Memecoin on Solana Surges 24,000% to $13 Billion as Trump's Token Drops 50%

Jan 19, 2025, 10:11 PM

Melania Trump has launched a new memecoin named 'Melania Meme' on the Solana blockchain, which has seen a dramatic rise in value, reaching a market cap of $13 billion after surging over 24,000% in a few hours. This launch has coincided with a significant drop in the value of Donald Trump's memecoin, TRUMP, which fell by 50% following the announcement of Melania's token. The Melania Meme token's distribution model allocates 35% to team vesting over a 13-month period, with 20% each to treasury and community initiatives, 10% to liquidity pool, and 15% to public distribution. Notably, 89% of the Melania token's supply was initially held in a single wallet, raising concerns about centralization. The launch of Melania's token has also impacted the broader crypto market, with Bitcoin falling back to $100,000 and Dogecoin dropping 11% over the last 24 hours. Donald Trump has retweeted the launch of Melania's token on his official social media accounts, adding to the frenzy surrounding these developments.