Étienne Girard
One crypto trader turned an $800,000 investment into $16.45 million within 12 hours by buying Official Melania Meme (MELANIA), according to Lookonchain. This represents a staggering 1,950% profit on the Solana-based token.
Another investor transformed $560,000 into $11.5 million, while reports indicate a trader made an eye-popping $47.5 million in gains. MELANIA’s price skyrocketed by an incredible 25,600% in under 12 hours, attracting widespread attention.
Launched by Melania Trump’s verified account on X, the token now boasts 500,000 holders, as per DEX Screener, and has become the 10th most traded cryptocurrency by volume.
The launch coincided with heightened interest in Trump-branded cryptocurrencies ahead of Donald Trump’s inauguration on Jan. 20. MELANIA’s debut followed the earlier release of the Official TRUMP ($TRUMP) token, which quickly entered the top 20 cryptocurrencies by market cap, reaching a fully diluted valuation of $50 billion.
Concerns Over MELANIA’s Tokenomics and Transparency
Despite its explosive growth, MELANIA has faced scrutiny regarding its distribution and development practices. Blockchain analytics platform Bubblemaps revealed that nearly 90% of MELANIA’s token supply is held in a single wallet, raising doubts about claims of fair allocation.
Critics also pointed out flaws in the project’s infrastructure. The token’s website, launched a day before its debut, lacks basic cybersecurity measures and features poorly written code. Crypto developer “cigar” labeled the effort “half-assed.”
Conor Grogan, a Coinbase executive, suggested MELANIA was likely managed by a less experienced team compared to TRUMP’s token, likening it to “college kids running a project.”
Further suspicions emerged due to links between MELANIA’s creator wallet and pump.fun, a Solana-based memecoin launchpad associated with speculative projects. Although Grogan ruled out the possibility of a “rug pull,” concerns about transparency and professionalism remain.
Looking Ahead: Promising Hype or Risky Speculation?
While MELANIA has captured the attention of traders with its rapid rise and lucrative profits, questions about its long-term viability and credibility linger. The project’s massive gains and controversies highlight the risks and opportunities of investing in speculative crypto ventures tied to high-profile figures.
As the crypto community continues to debate the legitimacy of Trump-branded tokens, both MELANIA and TRUMP are likely to remain in the spotlight, shaping discussions on the intersection of politics and blockchain innovation.
