Around 3% of the total MELANIA token supply will start unlocking after Feb. 20. The tokens worth $39 million were allocated to the MELANIA team at the start of the launch.
According to the token allocation rules on the official site, 10% of the tokens allocated to the team behind the official Melania Trump token will start unlocking 30 days after its launch date. This 10% consists of around 30 million MELANIA (MELANIA) tokens or 3% of the meme coin’s total supply.
The MELANIA token officially launched on Jan. 20, mere hours before the inauguration of President Donald Trump. Meanwhile, her husband’s meme coin had launched earlier during the weekend ahead of his inauguration.
Based on the token distribution chart, 20% of the MELANIA tokens are meant for public distribution, another 20% went to the community, 30% into Treasury, while 30% went into team vesting.
The vesting period for team-allocated tokens starts one month after the launch date, which is later followed by another unlocking period for the remaining 90% of team tokens which will release monthly at a rate of 2.25% per month.
The second unlocking period will begin on the second month after the launch and will continue until the 13th month, by then all MELANIA tokens have unlocked in value.
Token unlocks usually signal an increase in the token’s circulating supply, which could potentially lead to a boost in selling pressure and price volatility. If the team decides to immediately sell the 3% of tokens held, the token’s price could suffer from downward pressure.
At the time of writing, MELANIA has gone down by 4.3% in the past day based on data from crypto.news. The meme coin has been on a mostly downward trend since its launch. In the past week, MELANIA plummeted by 13.5% and around 14% in the past two weeks.
Despite boasting a starting price of $13.05, MELANIA’s value has plummeted by more than 90%. It is currently trading hands at a price of $1.43.
MELANIA team’s connection to LIBRA
According to Bubblemaps, there is speculation that MELANIA was allegedly created by the same team that launched the Solana (SOL)-based Argentinian meme coin, LIBRA, which collapsed hours after its launch.
The blockchain data analysis account concluded that 0xcEA, a wallet linked to the creator of MELANIA, has on-chain tracks that show the wallet is also funding the LIBRA creator.
“To make it worse, 0xcEA also sniped $LIBRA and made $6M in profit, using multiple side addresses funded via CCTP. This is similar to the MELANIA case,” wrote Bubblemaps in a post, alleging that the creator of MELANIA and LIBRA launched tokens to “extract value but used insider knowledge to snipe them.”
As previously reported by crypto.news, the LIBRA meme coin collapsed on Feb. 15 hours after its launch, losing $4.4 billion in market cap and dragging down the meme coin market along with it.
The token was promoted by Argentinian President Javier Milei as a way to boost the nation’s economy by funding small projects. Unfortunately, on-chain analysis showed that 82% of LIBRA’s token supply were held in a single cluster and insiders extracted $87.4 million within the first three hours through strategic liquidity manipulation, contributing to the token’s imminent downfall.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
