Melania Trump’s new memecoin, MELANIA, exploded onto the crypto scene, reaching a staggering $9.4 billion valuation within hours of its launch on the Solana blockchain. The announcement came via a post on X (formerly Twitter).
A Quick Rise, But Questions Remain
The coin’s rapid rise has, however, sparked controversy. Crypto analytics platform Bubblemaps highlighted major discrepancies between the coin’s reported token distribution and its actual distribution. They tweeted about this significant mismatch.
Criticism from High-Profile Figures
The launch hasn’t been met with universal acclaim. Anthony Scaramucci, former White House Communications Director, slammed the coin, comparing it to “Idi Amin-level corruption.”
Major Exchanges List MELANIA
Despite the criticism, major cryptocurrency exchanges like Binance, ByBit, and Kraken quickly added support for MELANIA. This rapid adoption is notable.
Differences from Previous Trump-Related Coins
Coinbase executive Conor Grogan pointed out key structural differences between MELANIA and the previously launched TRUMP memecoin. He highlighted the funding source and the lack of a multi-signature wallet, a security feature used in the TRUMP coin launch.
Disclaimer: Investing in cryptocurrencies is risky. Do your own research before investing any money. This information is not financial advice.
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