Melania Trump's Meme Token Quietly Cashes Out Millions

In a surprising turn of events from the world of meme tokens, Melania Trump's crypto project — named after her — has quietly pulled off a multi-million-dollar cashout.

In a surprising development in the realm of meme tokens, Melania Trump's eponymous crypto project has quietly pulled off a multi-million dollar cashout.

Over the past eight days, the Melania project has offloaded another 9.99 million $MELANIA tokens, amassing approximately $4.65 million. The strategy employed involved a combination of unilateral liquidity provision and dollar-cost averaging (DCA), a tactic that appears to be their preferred playbook.

This recent activity follows a substantial sell-off that commenced on March 16. During this period, the project systematically sold 41.675 million $MELANIA tokens, which were gradually exchanged for 170,000 SOL, currently valued at a hefty $23.063 million. On average, each token was sold for about $0.55.

The project team has been diligently converting the SOL into USDC, transferring the funds across chains or making direct withdrawals. Despite the magnitude of these operations, there has been no official statement from the project on its social channels regarding the purpose of the funds or the implications of this massive sell-off for the token's future.

While the Melania token initially generated buzz due to its namesake and high-profile affiliations, these actions spark curiosity about the project's long-term vision. Some might be tempted to view it as just another celeb-backed cash grab disguised as a meme coin.

As the dust settles, the question remains: where will those millions be headed next?