The official meme coins launched by President-elect Donald Trump and incoming First Lady Melania Trump have accumulated tens of billions in combined market valuation over the weekend, evoking both awe and concerns from the cryptocurrency community.
What happened: The two Solana (CRYPTO: SOL)-based coins, namely OFFICIAL TRUMP and MELANIA, have sparked an unprecedented frenzy, running up to valuations that established corporations took years to build.
At the current price of $58.33, Trump’s official coin had a fully diluted valuation of $58.34 billion, according to CoinMarketCap. Similarly, MELANIA memecoin was worth $12.73 billion.
Note that a fully diluted valuation is an asset’s market value if the maximum supply is in circulation.
The combined market value of the two …
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