The Melania meme coin team, linked to First Lady Melania Trump, has reportedly moved and sold over $30 million worth of its tokens, according to analysis from Bubblemaps. The on-chain investigation revealed that 50 million tokens were transferred to a wallet and subsequently split across multiple addresses, with over $3 million sent to centralized exchanges. Despite these significant movements, neither the project team nor Hayden Davis, a key strategist, has provided any explanation. This lack of transparency has raised concerns, especially as the team holds 92% of the total MELANIA supply, leaving retail investors exposed. Following a $2 million sell-off the previous week, this pattern of market manipulation raises alarm bells about the potential for unethical trading practices akin to traditional insider trading. The MELANIA token has already seen a drastic drop of over 95% from its initial launch high, mirroring the trajectory of another related token. With team wallets still offloading their supply and no communication from the team, analysts warn that the situation may worsen, jeopardizing the interests of retail investors.

Source đź”—