The $TRUMP Coin launched by Donald Trump on Friday surged over 1000% to over £60 ($74) per token on Sunday before nosediving to as low as £26 ($32) when Melania Trump announced the rollout of her own official $MELANIA meme coin.
The incoming First Lady posted on X, formerly Twitter: "The Official Melania Meme is live! You can buy $MELANIA now. https://melaniameme.com."
"This is beyond insane," analysts at The Kobeissi Letter posted to X. "Less than 48 hours ago, Donald Trump launched $Trump, which just erased £6.14 billion ($7.5 billion) in market cap in 10 minutes. In the minutes around the launch of Melania Trump's token, we saw massive sell orders in $Trump."
However, the $TRUMP Coin rebounded over 100% since the crash, surpassing £49 ($60) per token.
A Record Surge In Market Cap By Trump and Melania Meme Coins
The crypto frenzy triggered by Trump and Melania's official launches of meme coins drove the market capitalisation of both cryptocurrencies up by billions in a short span.
At 2:50 a.m. ET on Monday, the $TRUMP coin had a fully diluted value (FDV) market cap of £49.98 billion ($61.05 billion).
Meanwhile, the $MELANIA meme coin surged over 66% hours after launch on Inauguration Eve to trade at £10.07 ($12.3) per token, with an FDV market cap of £10.07 billion ($12.3 billion) at 3:00 a.m. ET on Monday.
There are 200 million $TRUMP tokens in circulation, which will reach 1 billion in three years. Furthermore, the $MELANIA meme coin supply was 162.21 million tokens, which will gradually increase to 1 billion.
Similar to the $TRUMP coin, the $MELANIA meme coin also detailed a vesting schedule on its official website, which ensures that the Melania Trump team, which holds most of the token supply, can only sell in a staggered manner over time and not all at once.
How To Buy $TRUMP and $MELANIA Coins
The Trump meme coin and the Melania coin were launched on the Solana Blockchain.
Crypto enthusiasts who want to purchase the $TRUMP coin can sign up on Moonshot and deposit money with Apple Pay, debit/credit card, or Venmo for the meme tokens.
Meanwhile, Melania Trump's team has partnered with decentralised exchange (DEX) aggregator Jupiter to facilitate secure and fast $MELANIA token purchases via Apple Pay, credit/debit cards, and Venmo.
Both Trump and Melania also shared their respective Solana contract addresses for token purchases. Buying cryptocurrencies using a verified contract address enables transfers directly from a DEX.
Solana contract address for the $TRUMP coin:
6p6xgHyF7AeE6TZkSmFsko444wqoP15icUSqi2jfGiPN
Solana contract address for the $MELANIA coin:
FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P
Users can create crypto wallets with providers compatible with the Solana network, such as Phantom, Solflare, or Backpack. Then, they can buy a base cryptocurrency, such as Solana, from a major crypto exchange like Binance or Coinbase and transfer holdings to their newly created crypto wallet.
Assuming you want to purchase $MELANIA tokens, you can connect your Solana-funded wallet, let's say Phantom, with DEX like Jupiter, copy and paste the Solana contract for $MELANIA on the DEX interface, and swap Solana tokens for the equivalent meme coins.
Memecoins are highly volatile assets, and both Trump and Melania clearly mentioned in their respective meme coin websites that these tokens are not to be considered an investment opportunity but a chance to join a community that supports their beliefs and initiatives.
Furthermore, crypto buyers should verify contract addresses with blockchain explorers like solscan.io, ensure the use of trusted wallets and DEX, and have sufficient funds for the successful execution of swaps or trades.
Disclaimer: Our digital media content is for informational purposes only and not investment advice. Please conduct your own analysis or seek professional advice before investing. Remember, investments are subject to market risks and past performance doesn't indicate future returns.
