The Donald Trump meme coin experienced a sharp drop after Melania Trump introduced her own memecoin.
The new token, called MELANIAquickly attracted attention, reaching a market value of 6 billion dollars in just two hours after its launch.
Melania Trump presented her memecoin in a publish in X shared by her and her husband on January 19. The token attracted more than 45,000 walletswhich helped it reach a market capitalization of $6.14 billion after its debut at 9 pm UTC on January 19.
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At the same time, Donald Trump’s file, TRIUMPH, lost $5 billion in market valuedropping 38% from $74.6 to $45.9 in just 40 minutes.
According to a website linked to MELANIAthe memecoin was created for promote “support” and “commitment”. The site clarified that It wasn’t meant to be an investment..
He also outlined a distribution plan, stating that 35% of the tokens were allocated to the development team., while 20% went to the treasury and the community. An additional 15% was made available to the public, with 10% reserved for liquidity.
Coinbase
$9.25 billion
I assume this token was handled by a different team than TRUMP. That one looks like a professional market maker, this one, honestly, looks like a college kid.
He also pointed out that the the wallet responsible for creating MELANIA was funded by another wallet associated with pump.funa sunny
SUN
$264.87
Meanwhile, Franklin Templeton, an investment management firm, recently highlighted the rise of artificial intelligence (AI) tokens. What were they? Read the full story.
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