官方代幣梅拉尼亞（Melania）官方的背後團隊最近在三天的時間內使銷售額超過150萬美元。

通過區塊鏈數據指示的這一操作表明，一種編程的銷售策略，有可能對代幣的價格施加向下壓力。

The team behind the official token MELANIA has recently been selling tokens, with sales over the last three days totaling over 1.5 million dollars, as indicated by blockchain data.

正式令牌Melania的背後團隊最近出售了代幣，過去三天的銷售額超過150萬美元，如區塊鏈數據所示。

This maneuver suggests a programmed selling strategy that could exert downward pressure on the token's price.

這種操作表明，編程的銷售策略可能會對代幣的價格施加向下壓力。

The team sold an additional $930,000 of tokens on April 28, two days after carrying out another sale round of $630,000. These movements are not random but follow a well-defined sales pattern known as dollar-cost averaging (DCA).

該團隊在另一輪63萬美元的銷售回合兩天后，在4月28日又出售了930,000美元的代幣。這些運動不是隨機的，而是遵循定義明確的銷售模式，稱為美元成本平均（DCA）。

What is the Dollar-Cost Averaging strategy?

美元成本的平均策略是什麼？

The strategy of Dollar-Cost Averaging (DCA) involves selling or purchasing a fixed amount of assets at regular intervals, reducing the risk of extreme volatility and diluting the purchase or sale price over time. In the case of MELANIA, the team seems to adopt this approach to gradually sell large quantities of tokens without causing too abrupt fluctuations.

美元成本平均（DCA）的策略涉及定期出售或購買固定數量的資產，從而降低了極端波動的風險，並隨著時間的推移將購買或銷售價格稀釋。就梅拉尼亞而言，該團隊似乎採用這種方法來逐漸出售大量令牌，而不會引起太突然的波動。

Moreover, as highlighted by the crypto intelligence system Lookonchain, the team not only sold tokens but also managed the project's liquidity, strategically adding or removing funds to facilitate sales.

此外，正如加密情報系統Lookonchain所強調的那樣，該團隊不僅出售了代幣，而且還管理了該項目的流動性，從而戰略性地增加或刪除了資金以促進銷售。

Recent performance of the MELANIA token and market context

美拉尼亞代幣和市場環境的最新表現

Despite the consistent sales, MELANIA has shown a recent recovery: in the last week, the token has grown by over 21%. However, this growth remains modest when compared to the all-time high of 13.7 dollars, reached on January 20, 2025, the day of the inauguration of President Donald Trump.

儘管銷售持續一致，但梅拉尼亞（Melania）最近顯示出恢復：上週，令牌增長了21％以上。但是，與唐納德·特朗普總統就職日，2025年1月20日達到的歷史最高點13.7美元相比，這種增長仍然不大。

As of today, the price of the token is almost 96% below its all-time high, a drastic drop that reflects the volatility and the difficulties of the project in maintaining investor interest.

截至今天，令牌的價格幾乎比其歷史最高高的96％，這是反映了該項目維持投資者利息的波動性和困難的急劇下降。

The role of big bets: short positions on MELANIA

大賭注的作用：梅拉尼亞的短職位

The situation becomes even more complex considering the activity of some large investors, defined as “whales” (balene) in crypto jargon. A particularly active wallet recently deposited 1.33 million dollars in USDC (a stablecoin pegged to the dollar) to open a short position with 2x leverage on the MELANIA token at the price of 14.7 dollars.

考慮到一些大型投資者的活動，該情況變得更加複雜，該活動被定義為加密術語中的“鯨魚”（Balene）。一個特別活躍的錢包最近存入了133萬美元的USDC（一個固定在美元固定的股份）中，以14.7美元的價格在梅拉尼亞代幣上以2倍的槓桿作用打開了一個短位置。

In simple terms, a short position means betting on the decline of the token’s price, with the goal of profiting if MELANIA depreciates further. However, the position is subject to liquidation if the price exceeds 21.50 dollars, which limits the risks for those who invest in this way.

簡而言之，一個較短的位置意味著押注令牌價格下跌，如果梅拉尼亞進一步貶值，則旨在獲利。但是，如果價格超過21.50美元，則該職位將被清算，這限制了以這種方式投資的人的風險。

The decline of the memecoin supercycle: data and market dynamics

Memecoin Supercycle的下降：數據和市場動態

Memecoins constituted the second most relevant sector in the crypto market in the first quarter of 2025, demonstrating how the narrative of these satirical or pop culture-inspired tokens remains popular. According to CoinGecko, memecoins attracted about 27% of global investor attention, while tokens dedicated to **artificial intelligence (AI)** took the lead with over 35% of the attention.

Memecoins在2025年第一季度構成了加密貨幣市場中第二最相關的部門，展示了這些諷刺或流行文化啟發的代幣的敘事如何仍然很流行。根據Coingecko的說法，Memecoins吸引了大約27％的全球投資者關注，而致力於**人工智能（AI）**的代幣則以超過35％的關注領先。

However, the performance of the TRUMP token and, more generally, that of MEME-tokens like MELANIA, seems to indicate a decline of this memecoin “supercycle”.

但是，特朗普令牌的表現以及更普遍的梅拉尼亞（Melania）等模因的表現似乎表明這種模因“超級循環”的下降。

Significant decrease in activity on memecoin

Memecoin的活動顯著減少

According to the data collected by Pump.fun, the platform dedicated to the launch projects of memecoin, the activity has undergone a sharp contraction: the number of active wallets has decreased from 2.85 million in the week of January 20, 2025, to about 1.44 million at the end of March, a reduction of more than 49%.

根據Pump.Fun收集的數據，專門針對Memecoin的發布項目的平台，該活動的收縮急劇收縮：活動錢包的數量已從2025年1月20日的285萬美元減少到3月底的約144萬，降低了49％以上。

This trend suggests a progressive loss of interest and a possible saturation of the memecoin market, which has enjoyed a peak of popularity in recent months thanks especially to initiatives linked to public figures like Trump.

這一趨勢表明，逐漸失去了興趣，並且可能使Memecoin市場飽和，近幾個月來尤其是由於與特朗普這樣的公眾人物相關的倡議，該市場在近幾個月中佔據了高峰。

Prospects for MELANIA and the memecoin market

梅拉尼亞和紀念市場的前景

In light of the scheduled sales by the team and the betting activity of major investors, MELANIA is in a critical phase. Although the recent 21% recovery is encouraging, the strategic positioning and overall reduction in activity in the memecoin sector indicate a possible stabilization or further decline in price in the medium term.

鑑於團隊的預定銷售以及主要投資者的博彩活動，Melania處於關鍵階段。儘管最近的21％的恢復令人鼓舞，但紀念行業的戰略定位和活動的總體降低表明，中期價格可能會穩定或進一步下降。

Furthermore, the growing interest in AI tokens seems to be diverting resources and capital from the memecoin segment, forcing projects like MELANIA to rethink their strategies.

此外，對AI代幣的興趣日益增長似乎正在將資源和資本從Memecoin細分市場中轉移，迫使Melania等項目重新考慮其戰略。

What to expect and how to navigate the memecoin market

期望什麼以及如何導航紀念市場

The MELANIA case demonstrates the importance of closely monitoring team activities and whale wallets, because they strongly influence price behavior. With a DCA selling strategy in place and the pressure from short positions, the token remains vulnerable.

梅拉尼亞案證明了密切監視團隊活動和鯨魚錢包的重要性，因為它們強烈影響價格行為。由於製定了DCA銷售策略和短職位的壓力，令牌仍然很容易受到傷害。

For investors and enthusiasts of the sector, it becomes essential to adopt an informed and prudent approach, balancing the opportunities for profit with the risks arising from volatility and the increasingly competitive market dynamics.

對於該行業的投資者和發燒友來說，必須採用一種知情和謹慎的方法，將利潤的機會與波動性和競爭激烈的市場動態產生的風險保持平衡。

Ultimately, despite the media allure of Trump’s official memecoin, the data indicate a market in evolution, where sustainability and differentiation play a key role in determining

最終，儘管特朗普的官方紀念物具有媒體的吸引力，但數據表明了一個進化市場，可持續性和差異化在確定方面起著關鍵作用