The Melania Meme (MELANIA) token, once one of the standout names in the politically themed cryptocurrency space, has seen a staggering 98% collapse in value since its peak earlier this year.
This dramatic downturn was highlighted in a new analysis by digital asset research firm Finbold.
Launched as a meme coin inspired by former US First Lady Melania Trump, MELANIA surged on 20 January 2025 — President Donald Trump’s inauguration day — trading at $8.48 and boasting a market capitalisation of $1.6bn.
However, by 7 August, the price had dropped to just $0.2062, slashing its market cap to $173m and effectively wiping over $1.4bn in value.
The steep decline was triggered in part by the sale of $35.7m worth of tokens by Melania Trump’s team in June.
The move spooked investors and triggered a broader crash across the token’s ecosystem.
Adding fuel to the fire are ongoing legislative developments in the US.
The MEME Act and COIN Act — bills backed by the Democratic Party — aim to prohibit political figures from directly profiting through crypto ventures.
If passed, such legislation could see MELANIA delisted from regulated exchanges, significantly damaging its visibility and speculative appeal.
Blockchain data paints a stark picture. According to Solscan, 90% of MELANIA’s 1 billion token supply is controlled by its top 10 holders, raising further concerns over centralised control.
Meanwhile, SoSoValue data shows a pattern of intense token transfers earlier this summer followed by a drop-off in buying activity — signalling a loss of retail investor confidence.
“This level of concentrated ownership paired with political uncertainty makes MELANIA one of the most volatile tokens we’ve tracked,” said Jordan Major, Chief Editor at Finbold.
Diana Paluteder, Head of Content at Finbold, added: “For investors, MELANIA illustrates the risks of politically branded tokens.
“As regulatory efforts like the MEME Act and COIN Act gain traction, transparency and ongoing monitoring become critical.”
While Ireland’s own crypto regulation is evolving under EU frameworks, the MELANIA story offers a cautionary tale for Irish investors dabbling in politically motivated digital assets.
