A small number of crypto whales control most of the supply in TRUMP and MELANIA memecoins launched by Donald Trump and Melania Trump. Blockchain analytics firm Chainalysis shows that 40 crypto holders with more than $10 million each control 94% of the total token supply
The high level of token ownership by a few investors creates doubts about how many people can access these coins. The majority of token owners possess small amounts, with only 2.1% holding between $1 million to $10 million and 1.7% holding between $100,000 and $1 million.
The remaining 2.2% of token owners possess small amounts of tokens compared to the other holders. DexScreener shows TRUMP has 790,000 token holders, and MELANIA has 343,000 holders.
The memecoins have successfully brought new investors into cryptocurrency markets despite being controlled by crypto whales. Chainalysis found that around 48% of buyers made brand-new wallets on the day they purchased these tokens.
The Trump family’s crypto launch brings new investors into digital assets, particularly from casual traders who want to explore crypto investments. People doubt whether the MELANIA token has been distributed fairly.
The official website states 35% of tokens went to the team and 20% to the treasury and community, but the blockchain platform Bubblemaps shows 90% of MELANIA supply is held in a single wallet, which raises doubts about token distribution transparency.
According to Chainalysis data, most TRUMP owners who hold the supply are neither making nor losing money, as 77% of them made under $100 in profit. Only a few have experienced significant losses.
People are talking about memecoins, but we don’t know yet if they will influence crypto markets beyond a temporary trend.
Also Read: Trump Mocks $TRUMP Memecoin Billions as ‘Only Peanuts’
