The Solana-based memecoin MELANIA, named after US First Girl Melania Trump, is below rising scrutiny after a sequence of huge token gross sales linked to the mission’s workforce.
On Could 3, blockchain researcher EmberCN revealed that project-linked wallets offloaded almost 10 million MELANIA tokens in simply eight days.
MELANIA-Linked Wallets Offload $23 Million in Tokens Since March
These gross sales amounted to just about $4.6 million, elevating sturdy issues over the mission’s long-term viability and workforce motives.
In line with EmberCN, the gross sales adopted a Greenback-Price Averaging (DCA) technique alongside unilateral liquidity provision. These methods allowed the mission to scale back worth influence whereas quietly exiting massive positions.
Notably, this isn’t the primary time the mission has utilized this method. In April, the identical wallets bought 3 million tokens in trade for about 9,009 SOL—roughly $1.2 million on the time—using the same liquidation method.
In the meantime, these promoting actions have been ongoing for a very long time. Since mid-March, the wallets have quietly liquidated round 41.67 million MELANIA tokens for round 170,000 SOL, value roughly $23 million.
EmberCN identified that almost all of those proceeds seem to have been transformed to USDC and withdrawn. This means an ongoing effort by the mission’s workforce to exit their important positions within the token.
The repeated and large-scale token gross sales by wallets tied to the mission have fueled suspicions amongst holders.
Many now query whether or not the meme coin was ever designed for long-term utility or merely crafted to capitalize on the title recognition of the US first girl.
MELANIA launched in January 2025 amid media buzz, spurred by its branding and the timing of President Donald Trump’s inauguration. Nevertheless, that early momentum has quickly pale amid a broader market lull that considerably impacted meme cash.
In line with BeInCrypto information, the token trades at roughly $0.38, down greater than 6% over the previous day and 31% within the final seven days.
Extra notably, MELANIA has plunged roughly 97% from its January 20 peak of $13.70.
Disclaimer
In adherence to the Belief Undertaking pointers, BeInCrypto is dedicated to unbiased, clear reporting. This information article goals to supply correct, well timed info. Nevertheless, readers are suggested to confirm details independently and seek the advice of with an expert earlier than making any choices based mostly on this content material. Please notice that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.