The MELANIA team has sold over 8% of the total Token supply in four months.
Selling pressure has reduced the Token's value by more than 90%, with no signs of recovery.
Since the beginning of the year, the Official Melania Meme [MELANIA] has plummeted without any signs of slowing down. This token has lost over 90% of its value in the past 5 months, dropping from over 14 USD to 0.2 USD.
Since May, this memecoin has continuously dropped 60%, hitting a new low, but the sharp decline has stabilized around the 0.20 USD mark.
The main reason for this sell-off is the project team's continuous liquidation of Tokens.
Source: MELANIA/USDT, TradingView
The MELANIA team's Token sell-off
In the past four months, the project team has reported selling more than 80 million MELANIA Tokens, equivalent to about 8.12% of the total supply.
This number is equivalent to more than 35 million USD withdrawn from the liquidity of the memecoin.
Despite the sell-off, the team still controls a large amount of Tokens. Notably, the top 10 Token holders control nearly 90% of the total supply (893 million Tokens), making it easy for later investors to be affected by moves from the development group.
Except for April and early May, the memecoin has had no significant recovery or notable buying pressure, although there were some slight recovery signals at the beginning of Q2.
During this same period, trading volume on DEX platforms sharply decreased from nearly 12 million USD to below 2 million USD — a drop of up to 83%, indicating very weak market traction for this memecoin.
Source: SolScan
Market indifference is not surprising when looking at the continuous Token sell-off and the accusations aimed at the Trump family's cryptocurrency empire.
According to Democratic lawmakers, Trump has made over 450 million USD from the TRUMP and MELANIA memecoins.
However, according to CoinGlass's 7-day liquidation heatmap, this memecoin still shows price volatility above 0.2 USD in the short term.
At the time of writing, this map indicates liquidity areas and price absorption zones around 0.19-0.204 USD at the lower end of the price action.
Source: CoinGlass
At the top of the price action, another liquidity area is located between 0.222 and 0.228 USD. This implies potential price volatility in the short term as liquidity flows shift.
In summary, MELANIA has almost dropped to nearly zero since its launch, mainly due to the project team's continuous sell-off of Tokens to investors holding.
Source: https://tintucbitcoin.com/melania-giam-90-sau-ban-8-coin/
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