A memecoin bearing the name of Melania Trump, the former First Lady and spouse of President Donald Trump, has caught the attention of blockchain analysts — not for its market performance, but for what’s happening behind the scenes.
On-chain data suggests that the team involved in developing the token, dubbed MELANIA, has been actively cashing out.
Over the past month, developers have reportedly offloaded roughly $8 million worth of the token, with transactions involving the swapping of MELANIA for Solana (SOL), the platform the coin is built on. Alongside the token sales, the project’s liquidity pools have seen frequent adjustments, hinting at attempts to control price movements or manage exits.
At launch, MELANIA attracted massive hype, briefly touching a jaw-dropping $2 billion valuation. Fast forward just four months, and that figure has plummeted to around $223 million. The token now trades nearly 96% below its peak price of $13, signaling a steep decline in investor confidence.
Unlike Donald Trump’s more widely accepted memecoin project, MELANIA hasn’t managed to secure listings on major exchanges such as Binance or Coinbase — a key factor that’s likely contributed to its limited reach and fading momentum.
While the project initially made headlines for its association with the former First Lady, the latest developments suggest that speculation and internal token movements may be playing a larger role than any long-term vision for the memecoin’s future.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/melania-trump-linked-memecoin-faces-sell-off-pressure-from-within/