The group behind the Melania meme coin has made one other token selloff and dumped 9.99 million $MELANIA tokens price roughly $4.65 million over the previous eight days.
In accordance with on-chain analyst Ember CN, these gross sales have been carried out by means of “unilateral liquidity and DCA (dollar-cost averaging) methods.” This continues an general promoting sample that began over a month and a half in the past.
MELANIA group nets 170,000 Solana
Since March 16, the mission group has transferred 41.675 million MELANIA (MELANIA) tokens from neighborhood and liquidity addresses and began changing them to Solana (SOL).
The full selloff has netted the group 170,000 SOL, valued at roughly $23.063 million. The sale was made for a median $0.55 per $MELANIA token.
The analyst detailed the group’s conversion course of and talked about that they “gradually sell the SOL to convert it into USDC, transferring it to other chains or withdrawing it.” This method suggests a deliberate liquidation technique quite than sporadic promoting.
Amidst the continual selloffs, the MELANIA token has proven a serious value drop in current market exercise. Value knowledge reveals a 5.3% drop prior to now 24 hours and a 32.1% drop over each the 7-day and 30-day intervals. The token stays 97.1% under its all-time excessive of $13.05 reached on January 20, 2025.
The Melania token, related to First Girl Melania Trump, initially gained traction through the meme coin buzz surrounding political figures and the Official Trump (TRUMP) meme coin. Nonetheless, the continual promoting strain from the mission group raises questions in regards to the token’s long-term viability and the group’s dedication to the mission.
Finally test Saturday, MELANIA is down 7.1% over the previous 24 hours.
