US First Lady Melania Trump has resumed promoting her Solana-based memecoin, MelaniaMeme (MELANIA), after months of silence. This move comes amid ongoing questions about millions of dollars in unexplained token sales associated with the project.
In a Thursday post on X, Trump shared an artificial intelligence-generated video promoting the Official MelaniaMeme token as “the path into the future,” tagging the memecoin’s official X account. However, blockchain analysts quickly noted that the promotion failed to address concerns regarding significant token sales from team wallets.
Blockchain data visualization platform Bubblemaps highlighted these issues in a recent X post, stating, “Melania Trump won’t address the $10 million of community tokens sold by team wallets. Just post an AI video after 10 months of silence.”
Further blockchain data revealed that on April 7, the MELANIA token team moved $30 million worth of community funds in a series of quiet sales, without offering any explanation. Additionally, in the three days leading up to April 28, another $1.5 million worth of tokens were sold following a 21% price increase during the prior week. Crypto intelligence platform Lookonchain noted that these selling patterns resembled dollar-cost averaging (DCA), an investment strategy that involves buying or selling a predetermined amount of an asset at fixed intervals.
Efforts to obtain comments from the offices of President Donald Trump and the First Lady have so far been unsuccessful.
Meanwhile, the MELANIA token has experienced a dramatic decline in value since its launch in January. According to CoinMarketCap, the coin was trading at $0.18 at the time of writing—down more than 90% from its launch price and a staggering 98% drop from its all-time high of $13.73.
One of the co-creators of MELANIA is Hayden Davis, who is also a founder behind the Libra (LIBRA) token and has been involved with numerous memecoins throughout the 2025 cycle. In March, Davis launched a Wolf of Wall Street-themed memecoin with an insider supply exceeding 80%, which crashed by 99% within just two days.
This recent crash followed the collapse of the Libra token, where eight insider wallets cashed out $107 million in liquidity, triggering a market cap wipeout of $4 billion within mere hours.
The ongoing controversies surrounding these memecoins highlight the risks investors face in the rapidly evolving crypto meme market. As always, potential investors should exercise caution and conduct thorough research before engaging with such projects.
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