Melania Token Tanks 5% as Insider Dumping Stirs Controversy
The post Melania Token Tanks 5% as Insider Dumping Stirs Controversy appeared on BitcoinEthereumNews.com.
Key Notes Insiders have sold over 13 million MELANIA tokens, worth over $8 million, in the past month. Wallets connected to the MELANIA team control 92% of the token’s supply, raising concerns. The MELANIA token price has plummeted by over 97% from its peak, attracting criticism. While most of the meme coin market basked in green on April 17, the Official Melania Meme MELANIA $0.41 24h volatility: 2.8% Market cap: $160.98 M Vol. 24h: $19.59 M token slipped 5% to trade around $0.40. The drop follows another round of token offloading by insiders, shaking investor confidence once again. On-chain data reveals over 6 million MELANIA were sold this past week through a series of liquidity adds and pulls across eight wallets. Lookonchain has analysed that around 13 million tokens, worth over $8 million, have been sold for 60,304 Solana in the past month. The #Melania team continues to dump $MELANIA by adding and removing liquidity! 13M $MELANIA has been sold for 60,304 $SOL($8.02M) in the past month.https://t.co/KPXuqbO6VD pic.twitter.com/4CCHaXPMxw — Lookonchain (@lookonchain) April 17, 2025 The latest batch of sales came with an 11% surge in trading volume to $17.1 million, indicating increased selling activity among investors. Investor Concerns Rise The Melania token, launched in January 2025, initially recorded heavy social media hype due to its connection to the First Lady Melania Trump. It quickly ballooned to a market cap of over $2 billion. However, the token’s price has since dropped by over 97%, now sitting at a market cap of roughly $221 million. This fall has been linked to liquidity withdrawals and large-scale sell-offs by project insiders, leading many to brand MELANIA as a textbook pump-and-dump. Experts have been raising questions around MELANIA’s tokenomics and overall purpose. Just last week, blockchain analytics platform Bubblemaps uncovered that 50 million MELANIA tokens…
Filed under: News - @ April 17, 2025 1:27 pm