MELANIA Meme Token Set for a Significant Unlock, with the Release of Coins Valued at $39 Million

The MELANIA token, associated with First Lady Melania Trump, has recently drawn attention in the market. While the team behind the project insists it is not

The First Lady Melania Trump-associated meme token, MELANIA, has had its upcoming token unlock under the spotlight. Now, as the clock ticks down to the event, fresh details have emerged.

According to blockchain analysis firm EmberCN, the team tokens of MELANIA will begin unlocking on either February 19 or 2024. The first release will see 3% of the total supply, equating to 30 million tokens, hit the market. At current prices, this batch of tokens is valued at approximately $39 million.

The analysis firm further highlights a 30-day initial lock-up and a gradual release schedule. After the first release, the project will see 2.25% of the total supply unlocked monthly over the next 12 months. This structure will result in 30% of the total tokens being unlocked within a 13-month period.

As the first batch of MELANIA tokens prepares to enter the market, market participants are keeping a close eye on how these scheduled unlocks will impact liquidity and trading activity. Notably, the unlock date is the 19th when measured in 30-day intervals but falls on the 20th if considered a full month.

Previously, blockchain analysis firm Chain.Codes revealed connections between the controversial Libra token and several cryptocurrency projects, including MELANIA. These findings prompted further scrutiny into the relationships between various entities within the ecosystem.

In related news, Julian Peh, CEO of Libra-linked KIP, addressed these concerns by clarifying that KIP did not play a deep role in the token’s launch. However, he noted that Kelsier, who is identified as the market maker for MELANIA, was responsible for the project.

"They (Kelsier) launched the meme token, and we (KIP) listed it on our website and showed support for the meme token. That's the extent of our involvement. But Kelsier and his team also helped us with the listing of the LIBRA token on KIP," Peh stated.

"We are not deeply involved in the meme token launches, and we leave the project launches to the community and the market makers. They have their own plans and strategies for each project," he added.

As the dust settles, KIP also faced increased attention due to the LIBRA token’s pump-and-dump price action over the weekend following Argentina's president's initial endorsement, which he later backtracked.

"We noticed a lot of FUD (fear, uncertainty, and doubt) being spread around, and some of it is quite amusing," KIP said in response to the unfolding events.

"We also noticed some direct threats toward our staff, which is never nice to see. But overall, we are happy with the community's response and the support for the LIBRA token," the exchange concluded.