Donald Trump’s memecoin losing to wife Melania? US Prez-elect's crypto drops 38% as $MELANIA skyrockets to $6 bn

Donald Trump’s controversial memecoin, $TRUMP, suffered a dramatic 38% plunge in value on January 19, wiping $5 billion off its market cap. According to CoinMarketCap data, the token’s price fell from $74.6 to $45.9 in just 40 minutes, following the launch of a competing memecoin by the incoming First Lady, Melania Trump.

Melania Trump’s self-titled token, $MELANIA, has taken the crypto world by storm, hitting a market cap of $6.14 billion within two hours of its launch.

Promoted in a post on X (formerly Twitter) by Mrs. Trump and amplified by her husband, the memecoin saw over 45,000 wallets purchasing it shortly after its release at 9 p.m. UTC, according to DEXScreener data.

Token Wars: $MELANIA vs. $TRUMP

While $TRUMP experienced a sharp decline, $MELANIA’s launch has been hailed as a resounding success. Marketed as a token to foster “support” and “engagement,” $MELANIA’s website emphasized that it was “not intended” as an investment opportunity. The competing memecoin launches come just one day before Donald Trump’s presidential inauguration on January 20.

Also Read: Melania Trump joins her husband in backing a meme coin

The site claimed that 35% of the tokens were allocated to the project team, 20% each to treasury and community, 15% to the public, and 10% for liquidity.

However, blockchain analytics platform Bubblemaps raised red flags about the token’s distribution. In a post on X, Bubblemaps revealed that nearly 90% of $MELANIA’s supply is held in a single wallet, contradicting the distribution claims.


Additional concerns were raised by crypto developer “cygaar,” who pointed out that the $MELANIA website was hastily created on January 18. The site lacked protection from cybersecurity service Cloudflare and featured poorly executed front-end code.


Intellectual property records from the Florida Department of State show that the website “melaniameme.com” is owned by MKT World LLC, a company founded by Melania Trump in 2021. The company shares a business address with the Trump International Golf Club.