Hayden Davis, linked to market manipulation of LIBRA and other celebrity meme tokens, is still selling MELANIA

Hayden Davis keeps selling Melania (MELANIA) tokens, as revealed by Bubblemaps data. Davis, who previously was linked to meme token manipulation

Hayden Davis, an early investor in Melania (MELANIA) is still selling the tokens, revealed Bubblemaps data.

The seller linked to market manipulation of LIBRA and other celebrity meme tokens has not faced any sanctions, and continues to use the meme token market to shed his positions.

The sellers are putting massive pressure on Melania

The MELANIA price was pressured by overwhelming sell orders, and strategic orders were used to bring the price lower every few hours. By March 28, the sellers had managed to bring the price down to $0.63, from levels of around $0.70.

The token still has over $83M in liquidity on DEX, which may hold off the selling pressure for a while. However, the sellers were able to put more pressure on DEX pairs, leading to an even bigger decline for MELANIA. The token traded at around $0.66 in centralized markets.

MELANIA is already far from its trading peak at $13.73, erasing billions in notional value. Yet even at the lower range, value extraction continues. Melania is held by 246,375 holders, far surpassing other meme tokens. The price crash and low available liquidity mean the holders may not be able to cash out, seeing the token go even lower.

At the same time, the sellers are pivoting to another token. A large influx of sell orders for Shibainu (SHIB) was also spotted on March 28.

One of the sellers linked to market manipulation of LIBRA and other celebrity meme tokens is still selling his positions, revealed Bubblemaps data.

The seller, known as Hayden Davis has not faced any consequences for his actions, and continues to use the meme token market to liquidate his holdings.

At the same time, the sellers are pivoting to another token. A large influx of sell orders for Shibainu (SHIB) was also spotted on March 28.

At the same time, the sellers are pivoting to another token. A large influx of sell orders for Shibainu (SHIB) was also spotted on March 28.

The sellers are pivoting to another token

The sellers linked to market manipulation of LIBRA and other celebrity meme tokens has not faced any sanctions, and continues to use the meme token market to liquidate his holdings.

The sellers are putting massive pressure on Melania

The MELANIA price was pressured by overwhelming sell orders, and strategic orders were used to bring the price lower every few hours. By March 28, the sellers had managed to bring the price down to $0.63, from levels of around $0.70.

The token still has over $83M in liquidity on DEX, which may hold off the selling pressure for a while. However, the sellers were able to put more pressure on DEX pairs, leading to an even bigger decline for MELANIA. The token traded at around $0.66 in centralized markets.

MELANIA is already far from its trading peak at $13.73, erasing billions in notional value. Yet even at the lower range, value extraction continues. Melania is held by 246,375 holders, far surpassing other meme tokens. The price crash and low available liquidity mean the holders may not be able to cash out, seeing the token go even lower.

At the same time, the sellers are pivoting to another token. A large influx of sell orders for Shibainu (SHIB) was also spotted on March 28.