Melania Trump Meme Coin Jumps After First Girl Promotes It, Nonetheless Down 99% From Peak – Decrypt

Briefly
First Girl 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 practically 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 practically 7% within the final 24 hours after the First Girl 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 each day excessive of $0.191 following the primary woman’s retweet.“Into the long run,” the primary woman’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 previously. In April, blockchain analytics agency Bubblemaps reported that $30 million price of MELANIA was taken from neighborhood funds and quietly offered available on the market 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.A minimum of an extra $8 million has been pulled from the neighborhood pool and offered as properly, based on Bubblemaps evaluation. Nonetheless, as of this writing, no member from the challenge has spoken out concerning the token gross sales regardless of Bubblemaps holding the challenge’s toes towards the hearth.“Woooo Melania Trump will not handle the $10M of neighborhood 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 woman’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 value of greater than $13 earlier than crashing to lower than $2 as January drew to an in depth.TRUMP has suffered an analogous destiny, peaking above $73 in January however now altering palms at $7.72—nearly a 90% drop from the highest.Each day Debrief NewsletterStart daily with the highest information tales proper now, plus authentic options, a podcast, movies and extra.