$MEME Melania Memecoin Team Sells $1.5M in Tokens Amid 21% Price Surge

by Vardai – 16 minutes ago

The team behind a memecoin linked to former First Lady Melania Trump has reportedly offloaded around $1.5 million worth of tokens during a sudden 21% price rally.

Blockchain data shows that wallets associated with the Melania memecoin conducted several sales as the token experienced a sharp upward movement. While the exact reasons for the team's liquidation remain unclear, the move comes amid growing concerns about insider activity and transparency within celebrity-themed crypto projects.

The memecoin — which was launched earlier this year — has seen volatile price action fueled largely by social media buzz and speculative trading. Analysts warn that while celebrity endorsements can drive temporary gains, they often result in rapid corrections once the initial hype fades.

As of publication time, the token has retraced some of its earlier gains but remains up 13% on the day. Investors are urged to exercise caution, as the project has provided little formal communication about long-term plans or token distribution strategies.

Cointelegraph reached out to the Melania memecoin team for comment but has not received a response as of press time.