Melania Meme Coin (MELANIA) Token Dumps 9.99 Million Tokens in 8-Day Spree, Nets 170k SOL So Far

The group behind the Melania meme coin has executed another token sell-off, offloading 9.99 million $MELANIA tokens amounting to around $4.65 million

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The group behind Melania meme coin has continued its token sell-off, offloading 9.99 million $MELANIA tokens, worth around $4.65 million, over the last eight days.

According to on-chain analyst Ember CN, these transactions were carried out using “unilateral liquidity and DCA (dollar-cost averaging) methods.” This marks a continuation of a selling trend that began more than a month and a half ago.

Since March 16, the project team has moved 41.675 million MELANIA tokens from community and liquidity addresses to convert them into Solana. In total, the team has sold 170,000 SOL, which comes out to about $23.063 million at an average price of $0.55 per $MELANIA token.

The analyst broke down how the team is converting the tokens, noting that they are gradually selling SOL to convert it into USDC before transferring it to other chains or withdrawing it. This strategic approach suggests a structured liquidation plan rather than hasty sales.

The MELANIA token has seen a significant price decrease in recent market activity. In the last 24 hours, the token dropped 5.3%, continuing a 7-day decline of 32.1% and a 30-day drop of 32.1%. The token remains 97.1% below its all-time high of $13.05, which was reached on January 20.

Initially linked to First Lady Melania Trump, the Melania token emerged during the meme coin craze focused on political figures and the Official Trump meme coin. However, the sustained selling pressure from the project team raises concerns about the token’s long-term viability and the team’s commitment to the project.