The hype of Trump and Melania’s official memecoins has despatched Decentralized Alternate (DEX) volumes to file highs whereas there are just a few minutes left in Donald Trump’s inauguration ceremony.
“Yesterday, the entire quantity reached $45.7B, and in the present day it has already surpassed $47B, with Solana accounting for 58% of the entire”, the crypto analytics platform talked about on X.
Trump and Melania Cash Ship DEXs Volumes Skyrocketing
The launch of $TRUMP and $MELANIA has ignited a buying and selling frenzy, driving DEX volumes to file highs.
Yesterday, the entire quantity reached $45.7B, and in the present day it has already surpassed $47B, with Solana accounting for 58% of the… pic.twitter.com/ESaAqyTjIy
— CryptoRank.io (@CryptoRank_io) January 20, 2025
In accordance with CoinMarketCap, the Official Trump ($TRUMP) meme coin has a market capitalization of $10.22 billion and a day by day buying and selling quantity of $41.18 billion. Nonetheless, the coin plunged to $51.19, a 19.46% drop within the final 24 hours, after his spouse and subsequent First Girl, Melania Trump, launched her meme coin, MELANIA. Alternatively, Melania’s memecoin has been buying and selling round $8.61, with an over 16,000% hike within the final 24 hours.
Whales and Buyers Generate Wealth Out of TRUMP and MELANIA
Frenzy of $TRUMP and $MELANIA memecoins has benefited many Buyers. In accordance with Lookonchain, an nameless investor has generated $47.5 million revenue after investing in $MELANIA from two totally different wallets.
In the meantime, whales have additionally continued to accumulate $TRUMP regardless of the drop in its value. One whale who made $11.8M on $TRUMP earlier than the dip in its value has once more spent 17.26M USDC to purchase 369K $TRUMP once more at $46.77.
Nonetheless, the launch of each memecoins has develop into a hotbed for controversies as many individuals contemplate it a rug pull rip-off. Some analysts pointed fingers towards the focus of a big provide of memecoins within the small variety of wallets, which is an peculiar signal of rug pull scams.
Bubblemaps, a blockchain analytics platform, disclosed that round 90% of the entire provide of Melania’s memecoin provide is locked right into a single pockets. Such token distribution sparked the dialogue concerning the challenge’s intention and future roadmap.
Whereas Trump’s period is returning, cryptocurrency fans and institutional buyers really feel magic within the air, pushing most cryptocurrencies to new heights.
Additionally Learn: TRUMP Meme Coin Climbs to Prime 20, Targets $100 This Week