MELANIA Developers Continue Large-Scale Token Sell-Off, Prompting Market Concerns
May 3, 2025, 11:51 p.m.
3 sources
negative
Onchain data reveals that developers of MELANIA, a memecoin associated with Melania Trump, have sold 9.99 million tokens worth $4.65 million over the past eight days. Since March 16, developer sales have raised 170,000 SOL (approximately $23 million). MELANIA, built on the Solana network, has suffered a 97% decline from its January all-time high, with its market cap now around $200 million. In contrast, the TRUMP token on Ethereum, while also down 83% from its peak, maintains a significantly higher market cap of $2.54 billion. Both tokens are highlighted as purely speculative, lacking substantial use cases.
Continued large developer sell-offs increase downward price pressure and erode investor confidence, likely resulting in sustained volatility and further declines, especially given past sharp drops.
Sources
Melania meme coin team dumps 9.99m tokens in 8 days, nets 170k SOL so far
crypto.news
03.05.2025 15:30
Watch Out: Developers Keep Selling Large Amounts of This Altcoin
Bitcoin Sistemi
03.05.2025 17:35
MELANIA Meme Coin Wallets Dump $4.6 Million Worth of Tokens as Price Slides
Beincrypto
03.05.2025 17:29
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