This Altcoin’s Developers Are Making Heavy Sales – Its Value Has Dropped Significantly

The memecoin project MELANIA, supported by Donald Trump’s wife Melania Trump, has sold 34.457 million MELANIA tokens in the last month and a half. According to data from on-chain analysis platforms, the value of these sales is around $12.15 million.

Since March 16, the project has transferred a total of 76.132 million MELANIA tokens from community and liquidity addresses to various wallets. Then, sales were carried out using unilateral liquidity addition and DCA methods.

During this process, the project sold MELANIA tokens for 244,000 SOL, raising approximately $35.218 million. The average selling price was calculated as $0.46. Later, some of the SOLs obtained were resold and these assets were converted to USDC or transferred to centralized exchanges (CEX).

Unlike the TRUMP memecoin, MELANIA has not been widely successful, but it is also facing some fraud allegations. With a total market cap of $196 million, the token is trading 98.2% lower than its all-time high. At the time, its total market cap was over $1.5 billion.

*This is not investment advice.

Source