First Lady Melania Trump has launched her own memecoin on the Solana (SOL) blockchain, which quickly skyrocketed to a valuation exceeding $9.4 billion just hours after its release.
Melania Trump’s social media platform X account suddenly announced that MELANIA was live for trading on Sunday.
According to Bubblemaps, there are major discrepancies between MELANIA’s reported tokenomics and actual distribution.
“JUST IN: The bubble map of MELANIA does NOT match the distribution on their website.”
Bubblemaps is not the only prominent crypto voice questioning the launch of First Lady’s new coin.
Former White House Communications Director Anthony Scaramucci expressed strong disapproval of any tokens associated with Trump, likening them to “Idi Amin-level corruption.”
Despite criticism, Binance announced it was launching support for MELANIA today, While ByBit and Kraken also added support for the new memecoin.
Coinbase executive Conor Grogan says the MELANIA is fundamentally different from the launch of the TRUMP memecoin.
“This Melania coin which launched a few minutes ago (and is worth a few billion) appears to be structured differently than TRUMP.
Creator wallet was funded by a wallet that traded on PumpFun, and there is no sign of a multisig (Trump had one setup pre-launch).”
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