The politically charged Melania Meme coin ( $MELANIA ), launched in association with former U.S. First Lady Melania Trump, has crashed by over 96% from its all-time high. The sudden collapse has raised red flags across the crypto industry, with allegations of insider dumping and mismanagement now coming into full focus.
According to blockchain analytics and community investigators, the crash was not due to poor market sentiment alone , it was engineered from within.
From Political Fame to Financial Fallout
Initially hyped as a “cultural icon” token on the Solana blockchain, MELANIA quickly gained traction due to its political affiliations and influencer-fueled marketing. But beneath the glossy headlines, on-chain sleuths uncovered a troubling trend: a concentrated control over token supply and unusually timed wallet activity that coincided with the token’s price top.
The coin, which once traded well above $11, is now sitting at a mere $0.44, shedding more than 35% this month alone and over 96% from its peak.
Bubblemaps Reveals Insider Dumping Scheme
The unraveling began when Bubblemaps, a blockchain data visualization firm, flagged suspicious transfers. According to their investigation, approximately 50 million MELANIA tokens, worth about $30 million, were moved from a “community reserve wallet” into wallets that were allegedly controlled by insiders.
At least $3 million worth of those tokens were deposited to centralized exchanges, and over $500,000 has already been sold, directly correlating with the token’s nosedive.
92% Supply Concentration Raises Alarm
Perhaps the most disturbing revelation is the degree of centralized control. According to Bubblemaps, wallets linked to the project team currently hold 92% of the entire MELANIA supply , a figure that critics say borders on predatory.
In a space that champions decentralization and community-driven projects, this level of centralization undermines not only the token’s integrity but also its long-term viability.
Political Hype Meets Crypto Chaos
The token was launched as part of a broader meme coin wave tied to political figures, gaining traction alongside others like TRUMP and BODEN. While meme coins are notoriously volatile, MELANIA’s collapse underscores the dangers of celebrity-backed tokens with little to no transparent governance.
For those entering this market, the MELANIA crash is a stark reminder: Do your due diligence, follow on-chain activity, and be wary of celebrity-endorsed tokens that offer hype but hide their tokenomics.
