Overview

Approximately 50% of Official Trump and Melania memecoin holders had never bought a “Solana altcoin” before, according to data from blockchain analytics firm Chainalysis.

The high-profile launch of Donald Trump’s official Solana-based memecoin, TRUMP, coincided with the premiere Crypto Ball in Washington ahead of his inauguration.

Chainalysis reports that 46.5% of buyers created their wallets on the day of their purchase. Most wallets holding TRUMP and MELANIA are likely retail, with over 80% of addresses holding under $1,000 worth of assets and 70% under $100.

Wallet Performance

As of January 21, over 77% of TRUMP wallets reported losses or earned less than $100. However, around 50 whales realized profits exceeding $10 million, with several wallets holding over $100 million, constituting 94% of the total value.

Onboarding Users

Memecoin launchpad Moonshot attracted hundreds of thousands of users, reaching the top finance app on the U.S. Apple App Store. Trading activity briefly lifted TRUMP’s valuation to over $75 billion, surpassing DOGE, with Solana seeing $50 billion in trading volume.

Following the launch of Melania Trump’s MELANIA memecoin, TRUMP faced a 50% correction. MELANIA peaked at around $13 billion before also halving.

During the pre-inauguration period, Kraken’s Tim Ogilvie noted significant trading activity. Despite this, Trump claimed to be relatively unaware of the situation, stating, “I don’t know much about it other than I launched it.”

Current Trading Status

Currently, the Official Trump token trades around $35, with a market cap of $7.1 billion, down from a weekend peak of over $15 billion. Meanwhile, Melania Meme is valued at $2.75, falling to a $412 million market cap from a peak of $1.9 billion.

Tokenomics

K33 analyst David Zimmerman criticized TRUMP’s tokenomics, noting that 80% of the token supply is held by wallets linked to CIC Digital, raising concerns about insider selling. These tokens are subject to a vesting period of up to three years; 20% of the TRUMP supply is currently in circulation.