MELANIA Team Sells 82 Million Tokens, Meme Coin Tanks 80% - Coinspeaker

Key Notes

• These sales, strategically conducted through liquidity management rather than open market orders, have raised concerns over transparency and tokenomics.
• MELANIA's official documentation acknowledges that the token lacks functionality, with no reinvestment plans for product development or ecosystem growth.
• Despite the recent Wintermute partnership to boost liquidity, MELANIA's price has dropped by 59% in the last 60 days.

Latest on-chain data shows that the team behind MELANIA

MELANIA $0.21

24h volatility: 4.3%

Market cap: $128.99 M

Vol. 24h: $8.92 M

meme coin has sold off a total of 82 million tokens, worth $35 million, over the past four months.

This accounts for nearly 8.22% of the total supply of the meme coin named after the former U.S. First Lady. During the sell-off period, MELANIA’s price dropped sharply from $1.22 to $0.20, marking an 80% decline since the team began offloading tokens.

MELANIA Team Selling Meme Coins Triggers Negative Sentiment

According to the blockchain analytics platform LookonChain, the official team behind MELANIA meme coin sold $35 million worth of tokens across 44 wallets. The team also sold the tokens in a way that avoided direct scrutiny from the crypto community.

The report from Lookonchain notes that the team strategically added and removed liquidity instead of using open market sell orders, resulting in net proceeds of 244,934 SOL. At the current Solana

SOL $146.0

24h volatility: 1.1%

Market cap: $77.63 B

Vol. 24h: $3.75 B

price of $150, the 244,934 SOL in proceeds equates to approximately $35 million worth of tokens sold.

The crypto community has raised significant concerns about transparency and tokenomics, especially in light of the project’s stagnant development. Reports of insider dumping of the MELANIA meme coin first came in April.

Even more troubling, the MELANIA project’s official documentation openly acknowledges these issues. The terms explicitly state that the token has “no functionality,” with no plans to reinvest proceeds into product development, user engagement, or ecosystem growth.

Related article: Why Is MELANIA MEME Coin Up 10% Today?This effectively classifies the MELANIA token as a purely speculative meme coin with no utility, making its sustained market capitalization of $127 million particularly perplexing.

Partnership With Wintermute Fails to Gather Momentum

In early June, the MELANIA meme coin team announced a promising partnership with top market maker Wintermute.

According to data from EmberCN, 150 million MELANIA tokens, valued at approximately $50 million at the time, were transferred from the community wallet to various new addresses, including 20 million tokens directed to Wintermute’s wallet. The objective was to enhance liquidity, minimize price slippage, and foster a more stable trading environment.

Although the partnership with Wintermute improved liquidity across trading platforms, it was not enough to reverse the downward trend. Over the past 60 days, MELANIA has experienced a 59% decline.

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