- Following the success of the $TRUMP token launched a day prior, Melania Trump announced the launch of the Melania memecoin late Sunday evening
- The token’s launch caused congestion in the Solana network and drained liquidity from the $TRUMP and other memecoins
Late Sunday evening, incoming First Lady Melania Trump announced the launch of the official Melania memecoin, $MELANIA, roughly 24 hours after President-elect Donald Trump launched his $TRUMP token.
The Official Melania Meme is 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 followed a similar pattern to Donald Trump’s: a website was provided with the option to buy with a credit card or cryptocurrency.
The market’s reaction to the drop was sharper than Trump’s as market reactions were more immediate.
Onchain data showed that other memecoins and some altcoins suffered price declines as attention and liquidity flowed to the $MELANIA token.
The token, which launched at $0.048 on Dexscreener, reached a high of $13.61 in the early morning of Monday January 20 before pulling back to $10.31 as of publication.
Meanwhile, the price of the $TRUMP token nosedived when the $MELANIA token was launched, falling from $73.50 to $30.94. However, it has regained some ground, rising to $53.51 as of publishing, as the Trump presidential inauguration draws close.