Melania Trump-Backed Memecoin Faces Scrutiny After Millions in Sales
The MELANIA memecoin, linked to former First Lady Melania Trump, has moved tens of millions of tokens over the past six weeks—and not quietly. Data from on-chain trackers shows around 34.5 million MELANIA tokens were sold, pulling in roughly $12.15 million. That’s a lot, but it’s just part of the story.
Since mid-March, the project shifted 76.1 million tokens from community and liquidity pools into various wallets. The sales weren’t all at once, though. They used a mix of methods, like drip-feeding tokens into liquidity pools and spreading out sales to avoid tanking the price. Clever? Maybe. But it’s raised eyebrows.
Where Did the Money Go?
The team swapped MELANIA tokens for 244,000 SOL, netting about $35.2 million at an average price of $0.46 per token. Then things got murkier. Some of that SOL was cashed out for USDC or sent to centralized exchanges. Tracking the exact path isn’t easy, but it’s clear the money didn’t just sit there.
For a project with Melania Trump’s name attached, you’d expect more fanfare. But MELANIA hasn’t gained the same traction as, say, the TRUMP memecoin. Instead, it’s dealing with whispers of foul play. Fraud claims are floating around, though nothing’s been proven. Still, when a token dives 98.2% from its peak—with a market cap once over $1.5 billion now sitting at $196 million—people start asking questions.
A Rocky Ride for Investors
Early buyers who held on are probably kicking themselves. The token’s all-time high feels like a distant memory, and the recent sales haven’t exactly inspired confidence. Then again, memecoins are volatile by nature. Maybe this was always part of the ride.
What’s next? Hard to say. The team hasn’t made any big announcements, and the SOL-to-USDC moves suggest they’re locking in profits—or cutting losses. Either way, it’s a reminder that memecoins, even with famous backers, aren’t for the faint of heart.
*This isn’t investment advice. Just a look at what’s happening. And right now, it’s messy.
