First Lady Melania Trump has launched her own meme coin, Official Melania Meme (MELANIA), on the Solana blockchain. The token is intended as a symbol of engagement and support, rather than an investment opportunity. $MELANIA has quickly gained popularity and reached a market cap of over $5 billion. However, concerns were raised when it was discovered that 89% of the token supply was concentrated in a single wallet, but the tokens have since been redistributed. The launch of $MELANIA caused a drop in the market cap of the Official Trump (TRUMP) coin. Critics argue that the introduction of meme coins such as $MELANIA could harm the credibility of the crypto ecosystem. While these meme coins offer the potential for short-term profits, they are highly speculative and investors should approach with caution.



Other News from Today