Binance Update On MELANIA Sparks Optimism Amid 75% Pump, What’s Next?

Coingapestaff
January 20, 2025
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Binance Announcement On MELANIA Sparks Optimism Amid 75% Pump, What's Next?

Highlights

  • Binance announces perpetual contract launch for the new MELANIA meme token.
  • Former first lady of the U.S., Melania Trump, has also spotlighted the token on X.
  • Despite a strong 75% rally, investors remain apprehensive as the crypto's tokenomics seem shady.

Cryptocurrency exchange Binance on Monday issued an important announcement for the recently launched MELANIA meme coin, garnering substantial attention globally. The exchange revealed that it is launching a perpetual contract for the mentioned crypto, sparking market optimism amid a 75% price rally already taken by the asset. As a response, traders and investors now anticipate a sustained rally as one of the top exchanges extends support to the Melania Trump-related crypto project.

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Binance Unveils MELANIA Futures Contract Shortly After Token Launch

According to an official Binance announcement dated January 20, the crypto exchange is launching the MELANIAUSDT perpetual contract at 09:30 UTC. Further, the platform’s enormous user base remains poised to enjoy 25x leverage trading the asset.

This mover by the crypto exchange falls in line with the platform’s efforts to tap into emerging markets. Also, it’s worth mentioning that the capped funding rate set by the exchange was at +2.00% / -2.00%.

Notably, the Melania meme coin has recently emerged as the talk of the crypto town, reflecting a similar approach to the recently launched Official Trump token. Former first lady of the U.S., Melania Trump posted on X about the launch of the meme coin.

While these chronicles aided the token in gaining significant traction, CoinGape reported that the MELANIA meme coin launch stirred huge trading activity. Overall, the abovementioned developments have aided the crypto project in securing a prominent spot on traders’ and investors’ radars.

However, blockchain data tracker Bubblemaps’ recent X post has revealed that the new coin’s tokenomics seem suspicious. Notably, 89% of the coin’s supply is still in one wallet and hasn’t been split, contrary to what the token’s website shows.

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Coin’s Price Pumps Over 75%, More Steam Ahead?

After the Binance listing news, MELANIA price extended the upside run to 75% to trade at $12.89. The coin’s intraday low and high were $6.62 and $13.73, respectively. Notably, market watchers remain bullish on the asset’s future movements as futures listing on Binance, one of the leading crypto exchanges, significantly enhances the coin’s market visibility.

Simultaneously, it’s also noteworthy that the new token launch aligns with Arthur Hayes’ prediction of a political memecoin market era. Overall, the current sentiment around such tokens remains highly bullish, although market participants remain apprehensive, given the dynamic nature of the broader crypto realm.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.