官方代币梅拉尼亚（Melania）官方的背后团队最近在三天的时间内使销售额超过150万美元。

通过区块链数据指示的这一操作表明，一种编程的销售策略，有可能对代币的价格施加向下压力。

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的背后团队最近出售了代币，过去三天的销售额超过150万美元，如区块链数据所示。

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

这种操作表明，编程的销售策略可能会对代币的价格施加向下压力。

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).

该团队在另一轮63万美元的销售回合两天后，在4月28日又出售了930,000美元的代币。这些运动不是随机的，而是遵循定义明确的销售模式，称为美元成本平均（DCA）。

What is the Dollar-Cost Averaging strategy?

美元成本的平均策略是什么？

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购买固定数量的资产，从而降低了极端波动的风险，并随着时间的推移将购买或销售价格稀释。就梅拉尼亚而言，该团队似乎采用这种方法来逐渐出售大量令牌，而不会引起太突然的波动。

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，正如加密情报系统Lookonchain所强调的那样，该团队不仅出售了代币，而且还管理了该项目的流动性，从而战略性地增加或删除了资金以促进销售。

Recent performance of the MELANIA token and market context

美拉尼亚代币和市场环境的最新表现

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.

尽管销售持续一致，但梅拉尼亚（Melania）最近显示出恢复：上周，令牌增长了21％以上。但是，与唐纳德·特朗普总统就职日，2025年1月20日达到的历史最高点13.7美元相比，这种增长仍然不大。

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，令牌的价格几乎比其历史最高高的96％，这是反映了该项目维持投资者利息的波动性和困难的急剧下降。

The role of big bets: short positions on MELANIA

大赌注的作用：梅拉尼亚的短职位

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.

考虑到一些大型投资者的活动，该情况变得更加复杂，该活动被定义为加密术语中的“鲸鱼”（Balene）。一个特别活跃的钱包最近存入了133万美元的USDC（一个固定在美元固定的股份）中，以14.7美元的价格在梅拉尼亚代币上以2倍的杠杆作用打开了一个短位置。

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.

简而言之，一个较短的位置意味着押注令牌价格下跌，如果梅拉尼亚进一步贬值，则旨在获利。但是，如果价格超过21.50美元，则该职位将被清算，这限制了以这种方式投资的人的风险。

The decline of the memecoin supercycle: data and market dynamics

Memecoin Supercycle的下降：数据和市场动态

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年第一季度构成了加密货币市场中第二最相关的部门，展示了这些讽刺或流行文化启发的代币的叙事如何仍然很流行。根据Coingecko的说法，Memecoins吸引了大约27％的全球投资者关注，而致力于**人工智能（AI）**的代币则以超过35％的关注领先。

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，特朗普令牌的表现以及更普遍的梅拉尼亚（Melania）等模因的表现似乎表明这种模因“超级循环”的下降。

Significant decrease in activity on memecoin

Memecoin的活动显着减少

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%.

根据Pump.Fun收集的数据，专门针对Memecoin的发布项目的平台，该活动的收缩急剧收缩：活动钱包的数量已从2025年1月20日的285万美元减少到3月底的约144万，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.

这一趋势表明，逐渐失去了兴趣，并且可能使Memecoin市场饱和，近几个月来尤其是由于与特朗普这样的公众人物相关的倡议，该市场在近几个月中占据了高峰。

Prospects for MELANIA and the memecoin market

梅拉尼亚和纪念市场的前景

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.

鉴于团队的预定销售以及主要投资者的博彩活动，Melania处于关键阶段。尽管最近的21％的恢复令人鼓舞，但纪念行业的战略定位和活动的总体降低表明，中期价格可能会稳定或进一步下降。

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，对AI代币的兴趣日益增长似乎正在将资源和资本从Memecoin细分市场中转移，迫使Melania等项目重新考虑其战略。

What to expect and how to navigate the memecoin market

期望什么以及如何导航纪念市场

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.

梅拉尼亚案证明了密切监视团队活动和鲸鱼钱包的重要性，因为它们强烈影响价格行为。由于制定了DCA销售策略和短职位的压力，令牌仍然很容易受到伤害。

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.

对于该行业的投资者和发烧友来说，必须采用一种知情和谨慎的方法，将利润的机会与波动性和竞争激烈的市场动态产生的风险保持平衡。

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

最终，尽管特朗普的官方纪念物具有媒体的吸引力，但数据表明了一个进化市场，可持续性和差异化在确定方面起着关键作用