Key Points

• The whale withdrew 10 million USDC from Binance to buy 6.69 million MELANIA coins at $1.5.
• MELANIA is up by 17% today, nearing $799 million in market cap.

A crypto whale bought a considerable amount of MELANIA coins, seeing over $1 million in profit since the purchase. MELANIA is up by around 17% today, reaching a market cap close to $799 million.

Crypto Whale Buys 6.69 Million MELANIA Coins

According to on-chain data coming from Lookonchain, a mysterious crypto whale created a new wallet a few hours ago, and withdrew 10 million USDC from Binance.

The whale bought a total of 6.69 million MELANIA coins when the memecoin was trading at $1.5.

The crypto whale bought MELANIA worth over $10,4 million, and considering that now, MELANIA is trading above $1.6, the same whale made profits of over $1 million by holding the coins.

MELANIA, Up by 17% Today

At the moment of writing this article, MELANIA is trading at $1.65, by almost 17% today. The coin has a market cap close to $799 million, and a 24-hour trading volume of over $155 million.

MELANIA recorded an impressive price surge today from $1.39 levels, reaching the current price level in less than four hours. Since 1 PM, MELANIA recorded a price surge of over 8%.

What is MELANIA Memecoin?

On January 19, Melania Trump, Donald Trump’s wife, announced via a post on X the launch of the Official Melania Meme, telling followers that they could start buying the memecoin. Trump also reported his wife’s announcement via his own X account.

The official website of the MELANIA memecoin revealed that interested traders could buy the coins via the official website using a debit card or crypto. Also, the project teamed up with Jupiter to provide a secure and easy purchasing experience.

The next day after launch, on January 20. Binance Futures launched the MELANIAUSDT Perpetual Contract with up to 25x leverage.