Solana users hit by delays after Trump memecoins debut
Summary
Solana users faced network congestion following the launches of the Official Trump (TRUMP) and Official Melania (MELANIA) memecoins on January 18 and 19, respectively. The launches led to significant trading volume, causing transaction delays and errors, including "500 Internal Server Errors." Despite these issues, Solana maintained a 100% uptime over the past 90 days. Concerns arose regarding the token distribution of MELANIA, with reports indicating that nearly 90% of its supply is held in a single wallet, contradicting the claimed allocations. The TRUMP token's market cap dropped by $5 billion shortly after the MELANIA launch, with its price falling 38%. As of January 20, the TRUMP token was trading at $57.50, down 3.3% in 24 hours.
