TRUMP Token Crash After Melania Trump Launches Token
Trump’s meme coin skyrocketed before plummeting in a spectacular crash, shocking the cryptocurrency world.
Its diluted market value soared to an incredible $75 billion when it was listed on Binance, placing it among the top 20 cryptocurrencies by market capitalization. The thrill, though, didn’t last long. Trump’s token lost almost 40% of its value in the minutes following the announcement, and many traders, including those who had previously purchased Trump tokens, promptly sold their holdings to invest in the new $MELANIA coin.
Analysts noticed that the price of Trump’s token had fallen by $7.5 billion within hours of the coin’s launch on Binance. The incoming first lady Melania Trump unveiled her meme coin,$MELANIA later in the evening. Her husband’s $TRUMP meme-coin temporarily lost 50% of its value due to this new coin.
According to a MELANIA token website that Mrs. Trump shared, the meme coin was created to show “engagement” and “support” and is “not intended” to be an investment opportunity. According to the website, the token team has received 35% of the tokens, with the remaining 20% going to the community and treasury.
Ten percent was set aside for liquidity, and fifteen percent was made available to the general public. Bubblemaps, a blockchain analytics platform, stated nearly 90% of the token supply is in a single wallet, which contradicts the stated token distribution.
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