Original | Odaily Planet Daily ( @OdailyChina )
Author: Wenser ( @wenser 2010 )
Unexpectedly, it was the Trump Wife Meme Coin MELANIA that caused the collapse of TRUMP...
At 5 a.m. today, Trumps current wife Melania TrumpX platform account suddenly posted a tweet similar to the tone of the TRUMP token launch, saying that the MELANIA token website has been launched, and even the website domain name format is modeled after the TRUMP token launch website. As soon as the news came out, the market was in an uproar. Some people rushed in immediately, but were stuck in the Solana extraction and trading links; some people successfully bought in and became the first wave of fish eaters. At the same time, the crypto market was in a panic, and the TRUMP token ushered in a massive market crash, plummeting from $76 to less than $30, and is currently reported at $43. Like the previous NFT, the Trump couple once again used Meme coins as their own cash machine.
Odaily Planet Daily will review and analyze the MELANIA token incident in this article for readers’ reference.
MELANIA: The second Trumps authentic concept coin?
As we mentioned in the article How did the American crypto ancestor Trump come into being? , Trumps current wife Melania can be called his crypto leader -
One of the factors that prompted Trumps transformation from a crypto-hater to a crypto-friendly may be his wife, former US First Lady Melania Trump, and in terms of issuing NFTs, Trump may have also learned from Melania.
The difference is that the emergence of MELANIA this time was obviously driven by Trumps attitude towards Melania; on the other hand, the two changed the track of getting rich from NFT to Meme coins.
Trumps open platform, Melania sucks blood TRUMP
At around 5 a.m. , after Melania’s personal X platform account released the news about the MELANIA token, Trump’s Truth Social account quickly retweeted Melania’s post; subsequently, Trump’s X platform account also retweeted the tweet, which attracted the FOMO of countless crypto players who missed out on the TRUMP token.
Melania was smiling happily, maybe because she knew she made money?
But on the other hand, the impatience to launch the second meme coin after TRUMP has also made many people criticize Trump for being ugly, treating the crypto market as a family ATM, and will everyone in the Trump family be issued a meme coin next?
Another detail is hidden in the token unlocking rules . The token economic model of MELANIA is quite different from that of TRUMP. The team share of TRUMP needs to be locked for 3 years, but the MELANIA team only needs to be fully locked for 30 days. Starting from the 30th day, the team share will be unlocked by 10% first, and then gradually unlocked linearly from the 2nd to the 13th month until it is fully unlocked in the 13th month.
As a result, market sentiment began to shift from the previous frenzy to panic, and the TRUMP token suffered.
Trump plunges: halved to less than $30
Trumps endorsement of MELANIA was seen by many as market manipulation , and TRUMP experienced a sharp decline.
According to GMGN data , from 5:00 to 5:30, TRUMP plummeted from around $76 to around $28, and then fell to around $24, all due to the emergence of MELANIA. No wonder someone joked: When you know that you support your wifes career, the cost is always greater than the benefit. After all, ensuring family harmony is the most important thing.
Seeing the Trump K-line at around 5 oclock may make you feel dazzled
But on the other hand, the MELANIA market performance has been booming.
At 6:22, the token’s market value surged to over $5 billion;
At around 7:40, MELANIA’s market value reached $7.8 billion ;
At around 8:50, MELANIAs market value exceeded US$13 billion , and then soared to around US$18.2 billion.
But as time went by, many people came to realize that the value of Trumps wife concept coin and Trumps genuine Meme coin is certainly not the same. Some people even found out that MELANIAs website and domain name were actually created yesterday , which makes people feel that it is easy for a makeshift team to do things. Subsequently, the price of TRUMP tokens gradually recovered, while MELANIA began to fall all the way: as of the time of writing, the price of MELANIA was temporarily reported at around US$7.5, with a market value of about US$7.5 billion.
The B-side of MELANIA tokens: Solana withdrawals are difficult, transactions are slow; WLFI public sale is popular
It is worth mentioning that the emergence of MELANIA has brought another wave of capital inflow to Solana, causing a number of mainstream exchanges including Binance and OKX to temporarily suspend SOL withdrawals. Countless people had to use cross-chain assets to prepare bullets. In addition, Solanas on-chain transactions were once so congested that token transactions failed.
On-chain scientist @aliez_ren shared : “What should I do if I can’t withdraw SOL from the exchange? First withdraw it to a certain EVM chain, and then use Portalbridge’s USDC bridge to Solana, which can be done in ten minutes; what should I do if I find that I don’t have enough gas while buying? Use JupiterZ mode to exchange USDC for some SOL without gas; what should I do if the market keeps fluctuating after buying and doesn’t pull up? Add liquidity to Meteora and earn transaction fees. There are several pools, and it is recommended to choose the one shown on the gmgn website.” It can be called a textbook-level DeFi guide.
In addition, the Trump familys sassy operation also boosted the WLFI project, which was previously coldly received, but officially completed the pre-sale of 20 billion WLFI today. Last night, affected by the news that WLFI bought ETH, the price of ETH once rebounded to above $3,400, but the emergence of MELANIA caused the crypto market to suffer another heavy blow.
A brief discussion on the future trend of the Meme coin track: Trump pioneered, but MELANIA was exposed
As Trump is about to take office as the President of the United States, the emergence of TRUMP has led countless people to shout The Crypto President will lead new financial innovations, setting a precedent for the most influential political leader to issue currency.
On the day when the TRUMP token appeared, some people thought that Trumps move was similar to the issuance of bonds by revolutionaries in the last century. Not only that, TRUMPs wealth-making effect also attracted a large wave of outside traffic and capital liquidity - Google Trends data shows that due to Trumps currency issuance, the search popularity of buy crypto and buy Solana surged to a peak of 100. In addition, the search popularity of the two words Coinbase and crypto app also rose to 100.
Trump issues currency also appeared on social media platforms such as Weibos hot search list and Douyins social list yesterday.
However, the emergence of MELANIA quickly shattered this imagination, and instead further deepened the stereotype that the Trump family was raising money through encryption projects and coin issuance.
In any case, with the example of the incoming US president, the celebrity coin craze may not be too far away; and Meme coins will also appear in the PolitiFi track. In addition to ETFs, the Crypto market will open a window for the general public to participate with Meme coins.
Trump and the impact of Melania: worth, income, legal and cultural symbols
After the weekends rapid growth, the subsequent impact of Trumps coin issuance is still spreading. Currently, it is mainly concentrated in the following aspects:
Calculation of worth: Meme coin assets or valuation part
Yesterday, blockchain analysis platform Arkham Intelligence estimated that Trumps net worth skyrocketed to $28 billion overnight, mainly due to Trumps issuance of the meme coin TRUMP, which increased his estimated net worth by 400%. Trumps affiliates CIC Digital LLC and Fight Fight Fight LLC control 80% of the supply. At that time, the price of TRUMP was only $28, and now this figure is estimated to have nearly doubled. In comparison, Forbes valued Trumps net worth at $5.6 billion in November 2024.
This trend has shown that despite the large fluctuations in Meme coins, they are still expected to gradually become a component of the valuation.
Revenue-generating channels: Issuing coins is the best “harvesting tool”
According to a previous article by Cardano co-founder Charles Hoskinson, 78.5% of Trump’s net worth of $29.6 billion is in cryptocurrencies. The emergence of projects such as TRUMP and WLFI also means that American political and business celebrities represented by Trump have a new “income-generating channel” since then - issuing tokens, whether DeFi tokens or Meme coins.
Leveraging their influence, celebrities can quickly convert it into tokens and sell them to earn mainstream cryptocurrencies or fiat currencies.
It’s no wonder that CryptoQuant CEO Ki Young Ju said : “Social influence will soon be measured by market value rather than the number of fans. Trump’s coin issuance marks this shift. Unless someone stronger than the president intervenes, this is inevitable. As victims emerge, the chaos will affect the law - this is the saddest part.”
Law Culture: Trump may face both legal and cultural challenges
Although Trump has not yet officially taken office as the US president, the emergence of the TRUMP token may still cause him to be involved in legal disputes.
Cardano co-founder Charles Hoskinson noted that Trump’s extensive involvement in cryptocurrencies could lead to significant changes in the industry. His administration is likely to redefine the IRS’s policies on capital gains tax and fair market value assessments of digital assets, and these expected changes could affect the regulatory framework of the cryptocurrency industry.
A column in the well-known magazine Forbes commented on Trumps issuance of Meme Coin, saying that the issuance raised profound legal issues about the intersection of presidential power, securities law and market integrity. This is not only related to the future of cryptocurrency regulation, but also to the fundamental issue of the boundary between political positions and private enterprises in the digital age.
In addition, Zack Guzmán, founder of Coinage, said , “According to the Constitution, no president may abuse his power for personal gain. Specifically, the Emoluments Clause prohibits the president from obtaining profits or gains from foreign governments. The Trump family launched TRUMP and MELANIA so quickly before the inauguration ceremony to avoid the risk of violating the Constitution and being impeached (again).”
Not only that, on the cultural level, Trump has also been criticized by a large number of crypto industry practitioners and organizations outside the circle: several American non-profit organizations including the non-partisan Project on Government Oversight, the non-profit Campaign Legal Center, and Citizens for Responsibility and Ethics in Washington criticized Trump for issuing Meme coins ; 1confirmation founder Nick Tomaino and Messari founder Ryan Selkis also criticized TRUMP and MELANIA respectively, believing that this move will have a negative impact.
But BitMEX co-founder Arthur Hayes also put forward a different view. He believes that Meme coins are the best fan interaction tool ever. If Trump does this, then Beyonce or Swift will be much less risky to do so. Get ready for the meme coin explosion.
Mechanism Capital partner Andrew Kang even believes that TRUMP has become the first legitimate competitor to the Meme coin DOGE.
The debate about Trump and TRUMP will continue, and Odaily Planet Daily will continue to follow up and update readers with the latest developments as soon as possible.
