$MELANIA Token Team Sells 9.99M Tokens, Raises $4.65M Amid Market Concerns

The Solana-based meme coin MELANIA, associated with First Lady Melania Trump, is drawing increasing scrutiny after wallets linked to the project offloaded nearly 10 million tokens—worth about $4.65 million—in just eight days. Analysis by blockchain researchers reveals this sell-off is part of an ongoing pattern, with the project team liquidating approximately 41.67 million tokens since mid-March, converting them first to SOL and then to USDC, totaling around $23 million. The team’s use of dollar-cost averaging and unilateral liquidity strategies has allowed them to quietly exit large positions, raising questions among investors about the project’s long-term viability and motives. The repeated large-scale sales have contributed to a sharp decline in MELANIA’s price, with the token now down significantly from its all-time high and over 30% lower in the past week alone. Community sentiment has grown increasingly skeptical, with many questioning whether the coin was intended as a genuine project or simply a celebrity-backed cash grab. Despite mounting concerns, there has been no official explanation from the project team regarding the purpose of these liquidations or the use of the withdrawn funds.