On Sunday, January 19th at 4:13 PM ET, Melania Trump made a post launching her own memecoin, $MELANIA
Just minutes later, Donald Trump himself reposted her announcement during his Victory Rally, fueling the fire even further.
The timing couldn’t have been worse for $TRUMP holders. Just as $MELANIA launched, buyer demand for Donald Trump’s memecoin, $TRUMP, collapsed. Its supply surged.
The domino effect was immediate. Less than 48 hours earlier, $TRUMP had erased $7.5 billion in market cap in just 10 minutes, as the number of sellers far outpaced the number of buyers. Leading up to the launch of $MELANIA, there were about 38,500 sellers for every 13,300 buyers, a ratio of roughly 3 sellers for each buyer.
This imbalance had kept prices rising, but as soon as $MELANIA was launched, the situation flipped. Within just one hour after the launch, seller volume surged to $352 million, while buyer volume lagged at only $245 million. This led to a sharp drop in $TRUMP’s price, as the ratio of buyers to sellers fell to just 1.3x.
What followed was nothing short of chaos. In the minutes around the $MELANIA launch, massive sell orders flooded the market. According to the flow log, there were several sales over $1 million and even a few above $5 million in $TRUMP. The selling pressure was so intense that Solana, the blockchain supporting $TRUMP, saw its value drop nearly 20% in a matter of minutes.
The market took a major hit, with over $10 billion in market cap erased across all memecoins following the launch. In the 24 hours since, $2 billion in volume has flowed through $TRUMP alone, highlighting just how quickly momentum can shift in this volatile space. The launch of $MELANIA has shown just how fast fortunes can change in the world of crypto, leaving many investors with whiplash as they try to make sense of the fast-moving market.
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ETHThe Official Melania Meme is live! You can buy $MELANIA now. melaniameme.com FUAfBo2jgks6gB4Z4LfZkqSZgzNucisEHqnNebaRxM1P
Moments later, we posted on X that the coin had launched. Prior to Donald Trump reposting her announcement, $TRUMP was little changed. After the repost and our breaking news post, $TRUMP fell -55% in minutes. Consider turning on @KobeissiLetter notifications.
In the moments after the launch of $MELANIA, we saw seller volume FAR outweigh buying volume. In 1 hour, there was $352 million of seller volume for just $245 million of buyer volume. The ratio of buyers to sellers fell to just 1.3x which led to a massive crash in price.
