Melania Token Tanks 5% as Insider Dumping Stirs Controversy
Key Notes
- Insiders have sold over 13 million MELANIA tokens, worth over $8 million, in the past month.
- Wallets connected to the MELANIA team control 92% of the token’s supply, raising concerns.
- The MELANIA token price has plummeted by over 97% from its peak, attracting criticism.
While most of the meme coin market basked in green on April 17, the Official Melania Meme
MELANIA
$0.41
24h volatility:
0.4%
Market cap:
$160.11 M
Vol. 24h:
$18.22 M
token slipped 5% to trade around $0.40. The drop follows another round of token offloading by insiders, shaking investor confidence once again.
On-chain data reveals over 6 million MELANIA were sold this past week through a series of liquidity adds and pulls across eight wallets. Lookonchain has analysed that around 13 million tokens, worth over $8 million, have been sold for 60,304 Solana in the past month.
The #Melania team continues to dump $MELANIA by adding and removing liquidity!
13M $MELANIA has been sold for 60,304 $SOL($8.02M) in the past month.https://t.co/KPXuqbO6VD pic.twitter.com/4CCHaXPMxw
— Lookonchain (@lookonchain) April 17, 2025
The latest batch of sales came with an 11% surge in trading volume to $17.1 million, indicating increased selling activity among investors.
Investor Concerns Rise
The Melania token, launched in January 2025, initially recorded heavy social media hype due to its connection to the First Lady Melania Trump. It quickly ballooned to a market cap of over $2 billion.
However, the token’s price has since dropped by over 97%, now sitting at a market cap of roughly $221 million. This fall has been linked to liquidity withdrawals and large-scale sell-offs by project insiders, leading many to brand MELANIA as a textbook pump-and-dump.
Experts have been raising questions around MELANIA’s tokenomics and overall purpose.
Just last week, blockchain analytics platform Bubblemaps uncovered that 50 million MELANIA tokens worth around $30 million were moved from the community fund into insider wallets. A large portion of these tokens has since hit exchanges, with at least $500,000 dumped outright.
Alarmingly, wallets connected to the team reportedly control 92% of the token’s supply. The name Hayden Davis, already infamous for his link to LIBRA collapse, appears in connection with these transactions.
MELANIA Price Outlook
On the 4-hour price chart, MELANIA continues to trade within the lower Bollinger Band, indicating persistent downward momentum. The bands are contracting, suggesting a potential squeeze where a breakout likely downward may follow.
MELANIA price chart | Source: TradingView
Meanwhile, the RSI stands at 36.29, nearing oversold territory, but without a strong reversal signal yet. If sellers continue to dominate, a break below the key support at $0.40 could send prices spiraling toward $0.35.
Interestingly, this week, MELANIA seems to be breaking down from a descending triangle pattern formed since early April.
MELANIA descending triangle pattern breakdown | Source: TradingView
This further confirms the likelihood of a continued decline unless there is strong buying pressure.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
