- Several wallets are holding more than $100m worth of Trump and Melanie memecoins
- Around 60 wallets hold the biggest profits, reaching between $1m and $10m
- 80% of Trump and Melanie holders are investors with less than $1k worth of assets on Solana
A majority of crypto wallets holding the Trump or Melania memecoins have made very little money, suggesting retail buying activity.
That’s according to data from Chainalysis, a blockchain forensics company. In a post on X, it looked at investors trading with the Trump and Melania memecoins following their launches ahead of President Donald Trump’s inauguration on Monday.
It found that 77% of wallets have earned less than $100; however, several wallets are holding more than $100 million each. A breakdown of the findings show that over 600,000 wallets breaking even or earning less than $100 fall into this percentage bracket.
A small amount, roughly 60 wallets, hold the biggest profits, reaching between $1 million and $10 million.
6/8 In terms of 📈profits, over 77% of wallets that hold $TRUMP have earned <$100 as of Jan 21, but 60 whales have earned >$10M. It’s still early days, and this is #notinvestmentadvice pic.twitter.com/5ZFZW1hE3V
— Chainalysis (@chainalysis) January 23, 2025
New retail investors
Those investing in these memecoins are said to be new retail investors, according to Chainalysis.
Taking a look at the findings, it said:
“Further suggesting retail popularity, over 80% of $TRUMP and/or $MELANIA holders are investors who hold less than $1k worth of assets on Solana.”
Additionally, 50% of Trump and Melania token holders have never bought a Solana altcoin, adding that “nearly half of buyers created their wallets the day they purchased the tokens.”
Many, however, have criticized Trump’s memecoin, arguing that he’s only doing it to boost his personal fortune. According to billionaire businessman Mark Cuban “it’s just a matter of time until a lot of people lose money from this,” according to a report in The Guardian.
At the time of publishing, the Trump coin is trading at over $37 with a market cap value at $7.3 billion. When it launched on Friday, January 17, the token peaked at more than $75 with a market cap value close to $15 billion, according to data from CoinMarketCap.