Briefly
- First Woman Melania Trump shared a publish from her official meme coin web page, boosting the value of her official Solana meme coin.
- The token is now buying and selling above $0.18—nonetheless almost 99% off its all-time excessive of $13.05.
- Controversy has surrounded the MELANIA token, which was launched by the identical strategist who labored on the controversial LIBRA token promoted by Argentine President Javier Milei.
The official Solana meme coin of Melania Trump (MELANIA) is up almost 7% within the final 24 hours after the First Woman promoted an apparently AI-generated video of herself posted by the token’s official X account.
MELANIA is now buying and selling at $0.182, up greater than 12% on the week, however nonetheless down roughly 99% from its January all-time excessive of $13.05. It briefly popped to a every day excessive of $0.191 following the primary girl’s retweet.
“Into the longer term,” the primary girl’s social media publish learn, tagging the meme token profile and resharing the video—which showcases her likeness showing out of skinny air—to her 3.8 million followers.
The meme coin challenge’s social media publish was its first since June, when it alerted its followers that tokens could also be on the transfer to new wallets on account of a liquidity offering settlement with crypto market maker Wintermute.
The motion of MELANIA tokens linked to the challenge and workforce has been controversial prior to now. In April, blockchain analytics agency Bubblemaps reported that $30 million price of MELANIA was taken from group funds and quietly offered in the marketplace by the workforce.
Previous to that, round $2 million price of MELANIA tokens was reportedly siphoned off by way of the single-sided liquidity tactic popularized by Hayden Davis—the launch strategist for each MELANIA and the controversial Libra token promoted by Argentine President Javier Milei.
No less than an extra $8 million has been pulled from the group pool and offered as effectively, in keeping with Bubblemaps evaluation. Nonetheless, as of this writing, no member from the challenge has spoken out in regards to the token gross sales regardless of Bubblemaps holding the challenge’s toes towards the fireplace.
“Woooo Melania Trump will not handle the $10M of group tokens offered by workforce wallets,” the analytics agency posted on X. “Simply publish an AI video after 10 months of silence? Cool, cool, cool.”
The primary girl’s meme coin famously launched simply two days after President Donald Trump’s official TRUMP meme coin debuted in January. It briefly surged to a worth of greater than $13 earlier than crashing to lower than $2 as January drew to a detailed.
TRUMP has suffered an analogous destiny, peaking above $73 in January however now altering fingers at $7.72—virtually a 90% drop from the highest.
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