The Rise of Trump and Melania Memecoins
Recent data from Chainalysis reveals interesting insights into the world of Trump and Melania memecoins. Here are some key points:
- Several wallets are holding more than $100m worth of Trump and Melanie memecoins
- Around 60 wallets hold the biggest profits, reaching between $1m and $10m
- 80% of Trump and Melanie holders are investors with less than $1k worth of assets on Solana
Retail Buying Activity
The majority of crypto wallets holding Trump or Melania memecoins have not made significant profits, indicating a trend of retail buying activity.
New Retail Investors
Chainalysis suggests that those investing in these memecoins are new retail investors. Key findings include:
- Over 80% of $TRUMP and/or $MELANIA holders are investors with less than $1k worth of assets on Solana
- 50% of Trump and Melania token holders have never bought a Solana altcoin
- Nearly half of buyers created their wallets on the same day they purchased the tokens
Criticism and Market Performance
While the Trump coin is currently trading at over $37 with a market cap value of $7.3 billion, critics like Mark Cuban have raised concerns about the potential risks associated with these memecoins. The token initially peaked at more than $75 with a market cap value close to $15 billion.