In recent days, the cryptocurrency landscape has witnessed an unprecedented surge in the valuation of the Official Trump (TRUMP) and Melania Meme (MELANIA) tokens. Launched on the Solana blockchain, these tokens have already generated staggering profits for their creators and investors—at least on paper. As of now, TRUMP is trading at $42, boasting a market capitalization of $8.8 billion, which positions it as the 25th largest cryptocurrency in existence, trailing behind notable coins like Polkadot (DOT) and Litecoin (LTC).
The MELANIA token has also garnered attention, currently holding a market cap of $945 million, ranking it at 121st among various token projects. On-chain data reveals that the TRUMP treasury wallet is responsible for a substantial portion of this success, currently holding $35.5 billion in TRUMP tokens, alongside $17.5 billion in additional memecoins named after Trump family members, including Eric and Kai Trump.
Another wallet linked to the Official Trump launch is reported to hold $622 million in TRUMP tokens and close to $162 billion in other cryptocurrencies, including $147 billion in yet another memecoin associated with Vice-President J.D. Vance. It’s noteworthy that, unlike the Trump tokens, Vance’s memecoin was not publicized via social media prior to its launch.
When we turn our attention to the MELANIA token, it reveals a similar structure in terms of token distribution. About 77% of its supply is held across three wallets, two of which are identified on Solscan as belonging to the Melania team, while a fourth wallet holds approximately 3.7% of MELANIA’s total supply. This strategic ownership results in the Trump family reportedly holding $4.8 billion worth of MELANIA tokens.
Particularly interesting is the observation of two wallets recognized as Melania Treasury and Melania Liquidity, which together command a 33.7% share of the MELANIA token supply. Furthermore, these wallets are also holding a staggering $295 billion in the VANCE token. In fact, a significant 25% of the VANCE token’s total supply is believed to be owned by these two wallets and the TRUMP launch wallet.
If we focus solely on the combined values of the Official Trump and Melania Meme coins, the Trump team may be sitting on gold—holding an estimated $40.9 billion on-chain. However, should we include all other assets held in these wallets, this figure balloons to around $810 billion.
Moreover, considering that the wallets holding MELANIA and TRUMP tokens possess a considerable portion of the VANCE token supply, it strongly suggests an operational link to the entity that originally launched VANCE. Presently, the VANCE treasury is reported to hold nearly $1.5 trillion in value—an impressive figure that provides context, as the entire market cap of Bitcoin hovers around $2 trillion. In total, the Trump entourage’s holdings from these associated projects could be worth a staggering $2.3 trillion on paper.
However, it’s critical to temper our enthusiasm with caution. While the dollar amounts appear eye-popping, actual liquidity of such sums comes into question. With such dominance in token supply, any attempts by Trump’s team to actively realize gains would likely induce significant market pressures. The team cannot liquidate a $35.5 billion position in a token capped at $8.8 billion; the same challenges apply to MELANIA and VANCE.
Additionally, both the Official Trump and Melania Meme projects include vesting schedules, meaning that token holders are restricted from selling at will. The Trump team will need to endure a waiting period of at least three months before they can embark on profit-taking, and even then, the process will be gradual, allowing only for limited sales at a time. The Melania Meme project is expected to begin its token unlocks in under 30 days, paving the way for potential further trading opportunities.
