Chainalysis Reports 94% of Trump Family Meme Coins Held by 40 Whales
The launch of the TRUMP and MELANIA meme coins by Donald and Melania Trump has generated notable interest and controversy. Key points include:
- Crypto whales, holding $10 million or more, control 94% of the total supply.
- Smaller investors with holdings between $1 million and $10 million own only 2.1% of the tokens.
- Wallets with less than $100 in holdings represent 2.2% of the supply, indicating a significant wealth concentration.
- This concentration raises concerns regarding liquidity and price stability, as large transactions can lead to volatility.
Retail Surge amid New Wallets
Despite whale dominance, retail interest is strong:
- Over 80% of holders have assets below $1,000 on the Solana blockchain.
- Approximately 790,800 wallets hold TRUMP, while 343,382 hold MELANIA.
- TRUMP peaked at $75 but currently trades at $35.81, reflecting a 52% decrease; market cap now at $7.09 billion.
- MELANIA has dropped 80% from its peak of $13 to $2.85, with a market cap of $475 million.
- 77% of TRUMP wallets have gained less than $100, while 60 whale wallets earned over $10 million.
Trump Family Meme Coins Face Ethical Concerns
The tokens have raised ethical questions due to their ownership structure, potentially creating conflicts of interest. President Trump's lighthearted comment about the coin's success during a meeting has drawn criticism amidst declining prices.