Blockchain analytics agency Bubblemaps has uncovered the staff behind US First Lady Melania Trump’s memecoin, MELANIA. It noticed the staff shifting $30 million value of the tokens out of the challenge neighborhood fund and subsequently promoting them.
In an April 7 submit on X, Bubblemaps stated that fifty million MELANIA tokens value round $30 million “was moved from community funds — and is now being quietly sold, with no explanation from the team.”
1/ Big sell-offs on $MELANIA
$30M was moved from neighborhood funds —
and is now being quietly bought, with no rationalization from the staff pic.twitter.com/UbhAqiiW61
— Bubblemaps (@bubblemaps) April 7, 2025
No Finish In Sight For The Shady Shenanigans With The MELANIA Token
Bubblemaps mapped out the actions of the latest MELANIA drama. It acknowledged that the tokens have been moved to a single pockets earlier than being break up throughout a number of addresses.
From there, $3 million value was transferred to exchanges, two new $6 million positions have been opened, and $500,000 value of MELANIA was bought. “No one from the MELANIA team has addressed this. Not the movements. Not the selling,” Bubblemaps added.
This newest transfer comes after Bubblemaps additionally uncovered the MELANIA staff in March for “covertly selling MELANIA tokens via single-sided liquidity.”
Hayden Davis, a type of liable for creating the First Lady’s memecoin, was discovered to have extracted $2 million from the MELANIA liquidity swimming pools.
Bubblemaps labored intently with rip-off investigator Coffeezilla to show Davis, who additionally masterminded the LIBRA rug pull. Davis has made tens of millions from rug pulling each LIBRA and MELANIA and earned himself an Interpol Discover consequently.
Though MELANIA and LIBRA are his most public scams, Bubblemaps has linked Davis to many different rug pulls that resulted within the serial scammer extracting tens of millions of {dollars}.
Worryingly, Bubblemaps stated that 92% of MELANIA’s provide continues to be held by staff wallets, stating that “the damage isn’t done yet.”
The MELANIA token was launched on January 19, a day after Donald Trump launched his personal meme coin, TRUMP, and a day earlier than his inauguration as US President for the second time.
Per CoinGecko, the First Lady’s meme coin has basically misplaced all worth since launch and is down 96% from its January excessive of over $13. It’s at present buying and selling at $0.51, down over 9% within the final week.
MELANIA peaked in January with a market cap of practically $2 billion, however its downward slide since then has left it with a market cap of simply $77 million.
(COINGECKO)
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Overall Sentiment In Memecash Is Climbing: Up 12% Right now
Forgetting apparent rip-off cash equivalent to MELANIA for a second, and meme cash are literally resurgent. Whereas the broader crypto market has rebounded properly following President Trump’s 90-day tariff pause information, memes, specifically, are again within the highlight.
Curiosity in meme cash had been at an all-time low amid a wider market crash, and knowledge from Dune Analytics in March backed that up after discovering that the variety of tokens graduating from Solana meme coin launchpad, Pump.enjoyable, had dropped by over two-thirds since January, falling from 5400 per week to simply 1500.
The complete variety of tokens launched on Solana can also be down, with knowledge from SolScan displaying solely 31,651 launched on April 5, lower than one-third of the 95,578 created on the peak of the meme coin frenzy this yr on January 26.
Nevertheless, CoinGecko knowledge reveals that the meme coin class is up 12% throughout the previous 24 hours. The mixed market cap for meme cash is climbing again towards $50 billion, at present at $47.4 billion.
FARTCOIN is without doubt one of the greatest every day gainers within the meme coin class, having surged over 30% since yesterday. The official Trump meme coin, TRUMP, is up over 5% as traders rally to the token for the person liable for the market restoration.
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The submit Meme Coins Are Up 12% But The MELANIA Team Have Rug Pulled Over $30m From The First Lady’s Token appeared first on 99Bitcoins.
