The MELANIA meme coin team sold tokens worth $4.6 million in a week
The MELANIA meme coin team sold nearly 10 million tokens in the last 8 days
Wallets associated with the project have been offloading coins since March
The token has depreciated by 97% compared to peak values
In the last eight days, the project team sold tokens worth nearly $4.6 million, and since March, the sell-offs have reached approximately 170,000 SOL, or $23 million. The total number of sold coins reached 41.67 million. EmberCN noted that a significant portion of the funds was converted to USDC and cashed out. Such actions raise doubts about the viability of the project and the motives of the team.
According to crypto analyst EmberCN, the tokens were sold off using a dollar-cost averaging (DCA) strategy and one-sided liquidity provision. These techniques allowed the project to mitigate price impact and quietly exit large positions. In April, the same addresses sold 3 million tokens for about 9,009 SOL, using the same tactic.
Large and repeated token sales by wallets associated with the project have raised suspicions among holders. Many suspected that the meme coin was not created for long-term goals, but rather for the First Lady to quickly profit.
