What You Need to Know:

• Donald Trump’s official memecoin has garnered substantial profits for early investors, particularly 60 major holders, each making over $10 million.
• The memecoin attracted fresh investors to the Solana blockchain, with around 50% of token holders being new to Solana-based assets.
• Nonetheless, wealth distribution is uneven, with 40 major holders controlling 94% of both TRUMP and MELANIA tokens.

Donald Trump’s official memecoin has proven highly rewarding for its early investors but quite unprofitable for many others, according to findings from Chainalysis. An estimated 60 whales – influential token holders – have realized profits surpassing $10 million each; however, most retail investors were found to be at break-even as of Thursday.

“After 1 billion $TRUMP tokens were minted, four wallets accumulated most of the funds, holding or providing liquidity to exchanges,” stated Chainalysis. “Most wallets holding $TRUMP and/or $MELANIA contained less than $100 worth, indicating retail buying activity.”

The analysis shows that 77% of TRUMP holders have earned below $100, while over 80% of TRUMP or MELANIA holders are likely to be individuals who held less than $1,000 worth of assets on the Solana blockchain.

Approximately half of these token holders may be first-time buyers of Solana-based tokens, suggesting that TRUMP has attracted new participants to the wider market. In contrast, around 40 significant holders with over $10 million in tokens represent an alarming 94% of the total token supply.

“Further illustrating retail popularity, over 80% of $TRUMP and/or $MELANIA holders are investors with less than $1,000 worth of assets in Solana,” also tweeted by Chainalysis.

In recent market activities, TRUMP prices have declined by 7% over the past 24 hours, while MELANIA tokens have fallen by 10%, indicating waning initial excitement around these two official memecoins.

The memecoin was launched by Trump before his swearing-in ceremony, where prices skyrocketed from mere cents to $14 within six hours. It attracted $3 billion in volumes shortly after its launch, leading to over $70 million in unrealized gains for early investors, as noted in CoinDesk’s previous reports.