Copycat tokens claiming to be the official TRUMP and MELANIA coins recorded $4.8 million in purchases in 24 hours from 12,641 wallets.
Memecoins bearing US President Donald Trump’s name surged in popularity in the days leading up to his inauguration, with opportunistic traders launching imitations of the official Trump Official (TRUMP) and Melania Official (MELANIA) tokens on the Solana network.
On Jan. 20, thousands of new memecoins with tradeable liquidity were launched on Solana, according to a Cointelegraph analysis of data from aggregator Birdeye.
Among them, 61 paraded themselves as official “TRUMP” or “MELANIA” coins through their ticker, official branding and project descriptions.
Read more
Read the full article here
