US First Girl Melania Trump has resumed selling her Solana-based memecoin, MelaniaMeme (MELANIA), after months of silence, even because the mission faces ongoing questions on thousands and thousands of {dollars} in unexplained token gross sales.
In a Thursday X put up, Trump returned with a man-made intelligence-generated video selling the Official MelaniaMeme token as the trail “into the long run,” tagging the official X account of the memecoin.
Nevertheless, blockchain analysts have been fast to notice that the promotion didn’t tackle considerations over token gross sales by crew wallets.
“Melania Trump gained’t tackle the $10M of neighborhood tokens offered by crew wallets. Simply put up an AI video after 10 months of silence,” blockchain information visualization platform Bubblemaps mentioned in a Thursday X put up.
On April 7, the crew behind the MELANIA token moved $30 million value of neighborhood funds that have been “quietly offered, with no clarification from the crew,” in line with blockchain information shared by Bubblemaps.
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As well as, the crew behind the token offered one other $1.5 million value of tokens within the three days main as much as April 28, following a 21% worth improve in the course of the earlier week.
The promoting patterns pointed to dollar-cost averaging (DCA), an funding technique used to purchase or promote a predetermined quantity of an asset at mounted occasions, in line with crypto intelligence platform Lookonchain.
Cointelegraph has reached out to the workplaces of President Donald Trump and the primary girl for remark.
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Melania token down 98% from all-time excessive
The MELANIA token has misplaced practically all of its worth since launching in January. The coin traded at $0.18 on the time of writing, down greater than 90% from launch and 98% from its all-time excessive of $13.73, in line with CoinMarketCap.
One of many founders behind the Libra (LIBRA) token, Hayden Davis, was additionally the co-creator of the MELANIA token and quite a few different memecoins of the 2025 cycle.
In March, Davies launched a Wolf of Wall Road-themed memecoin with an insider provide of over 80%, which led to the token crashing by 99% inside two days.
This got here a couple of weeks after the Libra token’s collapse, the place eight insider wallets cashed out $107 million in liquidity, resulting in a $4 billion market cap wipeout inside hours.
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