The US president and first lady’s recently launched memecoins are mostly held by just 40 crypto whales who have $10 million or more in either of the tokens, according to a blockchain analytics firm.
The crypto whales “dominate” token holdings for Donald Trump’s Official Trump (TRUMP) token or wife Melania’s Melania Meme (MELANIA) token, making up for 94% of the combined token share, Chainalysis said in a Jan. 22 X post.
Those holding $1 million to $10 million worth of either token only make up 2.1% of total holders, while wallets holding between $100,000 to $1 million made up 1.7%, it added.
Chainalysis said around 2.2% of the TRUMP and MELANIA owners hold less than $100,000 worth.
DexScreener data shows 790,000 crypto wallets hold the TRUMP coin, while 343,000 own MELANIA.
Despite the significant concentration of holdings among whales, Chainalysis said that the Trump family memecoin launches attracted a wave of new users to…
