A crypto trader invested $800,000 in Melania Trump’s official memecoin, Official Melania Meme (MELANIA), and made a remarkable profit of over 1,950%, according to data from Lookonchain.
The trader, identified by the Solana address 4zo6…zHF2, exchanged 800,000 USD Coin (USDC) on Jan. 20 and converted it into 16.45 million USDC in just 12 hours, achieving nearly 2000% gains.
Another trader reportedly turned $560,000 into $11.5 million by investing in MELANIA, while a third pocketed $47.5 million in profits.
These massive gains came as MELANIA’s price soared by 25,600% within 12 hours of its launch across various crypto exchanges.
Melania Trump’s verified X account announced the token, which quickly gained traction with around 500,000 holders, according to DEX Screener.
The token has also become the 10th most traded cryptocurrency by volume.
MELANIA’s meteoric rise coincided with the buzz surrounding Donald Trump’s second-term inauguration and the debut of his own memecoin, Official TRUMP ($TRUMP).
The TRUMP token, released shortly before MELANIA, climbed into the top 20 cryptocurrencies by market cap, reaching a fully diluted value of approximately $50 billion.
Concerns About MELANIA’s Transparency
Despite its rapid success, MELANIA has faced criticism regarding its token distribution and project transparency.
Blockchain analytics platform Bubblemaps revealed that nearly 90% of MELANIA’s supply is controlled by a single wallet, raising doubts about the fairness of its distribution.
Additionally, the token’s website, launched a day before its debut, has been criticized for weak cybersecurity and subpar development.
Coinbase executive Conor Grogan commented that MELANIA appeared less professionally managed than the TRUMP token, likening it to a project run by “college kids.”
While doubts remain about MELANIA’s transparency and execution, its unprecedented gains have fueled excitement and speculation in the crypto space.
