Following the success of the $TRUMP token launched the day before, Melania Trump announced the launch of the Melania Memecoin late Sunday night. The token launch caused congestion on the Solana network, leading to $TRUMP and other Liquidity has dried up from meme coins
Late Sunday night, first lady Melania Trump announced the launch of the official Melania meme coin $MELANIA, approximately 24 hours after President-elect Donald Trump launched the $TRUMP token.
The official Melania meme is now live!
You can buy $MELANIA now. https://t.co/8FXvlMBhVf
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P pic.twitter.com/t2vYiahRn6
— Melania Trump (@MELANIATRUMP) January 19, 2025
The announcement was made on her X profile, and following a similar pattern to Donald Trump, the website offered the option to purchase with credit card or virtual currency.
The market reaction to the decline was sharper because the market reaction was more immediate than President Trump’s.
On-chain data showed that other meme coins and some altcoins suffered price declines as attention and liquidity flowed to the $MELANIA token.
The token, which started at $0.048 on Dexscreener, reached a high of $13.61 in the early morning hours of Monday, January 20th, but has returned to $10.31 at the time of publication.
Meanwhile, the price of the $TRUMP token plummeted after the $MELANIA token was launched, dropping from $73.50 to $30.94. However, as President Trump’s inauguration approaches, the stock has rebounded somewhat, rising to $53.51 at the time of publication.
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