The new US president, Donald Trump, launched his own meme coin, $TRUMP, just two days before his inauguration. This coin managed to become one of the top 20 cryptocurrencies in terms of market value in just 24 hours. However, not wanting to be overshadowed by Trump’s success, his wife Melania Trump announced her own meme coin, $MELANIA, the next day. So, what is Melania Coin (MELANIA), how does it work and how will its future in the crypto market be shaped?
What is Melania Coin?
Melania Coin is a meme token developed on the Solana blockchain. According to the official website, this coin was produced for entertainment and collection purposes, not as a financial instrument or investment tool. However, what makes the project stand out is that it has a strong connection with the traditional world of politics and receives support from leading names in the crypto world. This situation provides a unique example of how politics and cryptocurrencies can intersect.
Melania Coin was officially launched on January 19, 2025. The former First Lady announced this development by sharing it on her official X account. While Melania Trump’s announcement attracted great attention in a short time, Donald Trump also increased the popularity of the coin by sharing this post with his followers.
How Does Melania Coin Work?
Melania Coin benefits from the high transaction speed and low costs of the Solana blockchain. This provides fast and low-cost transfers. One of the most striking features of the project is the transparency of the vesting process determined for the team. The tokens will be released gradually over the course of a year after a 30-day lockup period. This is designed to ensure the market is protected against manipulation.
The price history of MELANIA Coin is still very new. However, it showed strong volatility after listing on January 19:
ATH (All Time High): $13.73
Before Trump’s inauguration on January 20: $3.5
Price as of January 24: $2.7 | Market value: $460 million
MELANIA Coin, which initially attracted great interest, experienced a sharp price drop as the first wave of excitement passed.
Risks and Future Expectations
According to the Chainalysis report, the majority of MELANIA and TRUMP coins are controlled by a small number of ‘whale’ investors. Just 50 wallets generated more than $10 million each. Most MELANIA investors are small investors, typically investing less than $100. However, some giant wallets hold hundreds of millions of dollars worth of MELANIA tokens. This raises concerns that the market may be under the control of a few large investors and price fluctuations are open to manipulation.
The future of MELANIA Coin is uncertain. The decline following the initial wave of interest shows that the hype effect of this coin may be short-lived. However, given the political power of the Trump family and their influence in the crypto world, this token may rise again. Can MELANIA Coin rise again or will it sink into oblivion? Time will tell.
