The MELANIA team is suspected of dumping 15 million USD while the token price fell 96%.

Blockchain analyst EmberCN has just accused the development team of the memecoin MELANIA – issued by First Lady Melania Trump – of continuously dumping tokens. In a post on X, EmberCN stated that the team has sold 23.45 million MELANIA, raising approximately 110,000 SOL ( equivalent to 14.75 million USD) in just the past month.

Based on on-chain data analysis, the wallets associated with the project team have been continuously selling for several weeks through various community and liquidity addresses. In addition to transferring tokens to the exchange, the team has also manipulated liquidity by arbitrarily adding and withdrawing liquidity from the MELANIA/SOL pool on Meteora, a strategy often used to offload assets without drawing attention.

In the latest sale on April 19, the team sold an additional 2.95 million MELANIA, raising 9,009 SOL ( equivalent to 1.2 million USD). Specifically, in the last three days, they have sold a total of 7.643 million MELANIA in exchange for SOL.

MELANIA falls freely while TRUMP is also facing difficulties

The price of MELANIA has sharply decreased amid the team's continuous sell-off. According to data from Coingecko, MELANIA peaked at 13.73 USD on January 20, but has been continuously declining since then. In just the last 90 days, the token has lost up to 96% of its value, with a further decrease of 23% just last week.

MELANIA token price | Source: CoingeckoAs of now, the price of MELANIA is only 0.3792 USD, down an additional 5.9% in the past 24 hours, despite the overall market being quite stable. Meanwhile, other memecoins like SHIB, PEPE, BONK, and Fartcoin are experiencing an average increase of 2%, indicating that MELANIA is being left behind.

Not only MELANIA is facing difficulties, but the memecoin officially named TRUMP is also in decline. Once reaching a peak of 75.35 USD, TRUMP is now only 8.14 USD after three months. Although there are signs of a slight recovery, the recent unlocking of 40 million tokens ( worth over 300 million USD ) is causing significant concern about the next selling pressure.

In the context of the number of unlocked tokens allocated to the development team, any decision to sell could cause TRUMP to follow in the footsteps of MELANIA. If the team continues to offload, the price of TRUMP risks continuing to plummet in the near future.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.

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