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The Solana blockchain has been gaining attention with the launch of two political meme coins: TRUMP and MELANIA. Both coins have seen big price changes, with TRUMP rising quickly before falling sharply, while MELANIA has surged impressively.
TRUMP and MELANIA’s price swings shake up the market
TRUMP coin had a strong start, reaching $75.35 within days of its launch and pushing its market value to $15 billion. At one point, it even surpassed other popular meme coins in daily trading volume.
However, the launch of MELANIA caused TRUMP’s price to drop by over 50% in just two hours. Although there have been some signs of recovery, it has not yet returned to its peak value.
On the other hand, MELANIA coin saw an incredible increase of over 10,000%, reaching about $12.70. It now leads trading volume charts, even outperforming well-known coins like SHIB.
Both coins have captured the crypto community’s attention and are among the most searched tokens on CoinMarketCap.
Token distribution raises questions — a closer look at Trump and Melania
The rapid rise of these meme coins has raised some concerns.
TRUMP coin was launched shortly before a major political event and is controlled by companies linked to the Trump Organization. These companies hold 80% of the total supply, which will be gradually released over the next three years.
MELANIA coin, which claims to have a fair distribution, has also faced scrutiny. Blockchain analysts found that almost 89% of its supply was initially stored in one wallet before being split into four separate wallets.
Despite these concerns, both coins continue to attract interest and now have a combined total of nearly 1.3 million holders, according to blockchain data.
Trump’s impact on the crypto market
The rise of political meme coins like TRUMP and MELANIA is bringing more attention to Solana-based projects. One such project, Solaxy, is already seeing the benefits of this growing interest in Solana. While Solaxy isn’t directly linked to the political meme coin trend, the recent focus on Solana, as influenced by Trump coin, has put it in the spotlight.
As Solana’s ecosystem grows, projects like Solaxy and others could play a larger role in the decentralized finance (DeFi) space, tapping into the momentum generated by these meme coins.The success of political meme coins, particularly TRUMP, has injected fresh energy into the market, revealing how these coins have carved out their own unique niche within the broader crypto landscape. With strong community support and ongoing political discourse fueling their momentum, TRUMP coin’s future remains uncertain, but certainly worth keeping an eye on.
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