Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Trump Family Memecoins Overload Solana Network, Spark Investor Concerns

Trump Family Memecoins Overload Solana Network, Spark Investor Concerns

Cryptodnes2025/01/20 17:55
By:Cryptodnes

Solana users faced network issues following the high-profile launches of memecoins by U.S. President-elect Donald Trump and his wife, Melania, just days before Trump’s January 20 inauguration.

The Official Trump ( TRUMP ) token debuted on January 18, followed by the Official Melania (MELANIA) token on January 19, both launched on the Solana blockchain. The influx of activity from these tokens reportedly led to network congestion and transaction delays.

By January 19, Solana’s blockchain explorer had ceased reporting new transactions for at least 30 minutes, according to a post by crypto trader Dave. Other users also reported encountering “500 Internal Server Errors” on Solscan during this time.

While Solana has maintained 100% uptime for the past 90 days, past network disruptions, such as the February 2024 outage, have fueled ongoing debates about its scalability.

READ MORE:
Michael Saylor Hints at Major Bitcoin News Amid Trump Inauguration

The Trump family’s memecoins have drawn significant attention, but questions around their token allocations have raised concerns. The MELANIA token’s website claimed its distribution was divided among the team (35%), treasury (20%), community (20%), public (15%), and liquidity (10%).

However, blockchain analytics platform Bubblemaps revealed that nearly 90% of the token supply was held in a single wallet, contradicting the stated distribution.

SHARE: SHARES
3

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Cobie: Long-term trading

Crypto Twitter doesn't want to hear "get rich in ten years" stories. But that might actually be the only truly viable way.

Chaincatcher2025/11/29 19:18
Cobie: Long-term trading

The central bank sets a major tone on stablecoins for the first time—where will the market go from here?

This statement will not directly affect the Hong Kong stablecoin market, but it will have an indirect impact, as mainland institutions will enter the Hong Kong stablecoin market more cautiously and low-key.

Chaincatcher2025/11/29 19:17
The central bank sets a major tone on stablecoins for the first time—where will the market go from here?

Charlie Munger's Final Years: Bold Investments at 99, Supporting Young Neighbors to Build a Real Estate Empire

A few days before his death, Munger asked his family to leave the hospital room so he could make one last call to Buffett. The two legendary partners then bid their final farewell.

ForesightNews2025/11/29 18:52
Charlie Munger's Final Years: Bold Investments at 99, Supporting Young Neighbors to Build a Real Estate Empire

Stacks Nakamoto Upgrade

STX has never missed out on market speculation surrounding the BTC ecosystem, but previous hype was more like "castles in the air" without a solid foundation. After the Nakamoto upgrade, Stacks will provide the market with higher expectations through improved performance and sBTC.

雨中狂睡2025/11/29 17:51
Stacks Nakamoto Upgrade