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.