The Melania Meme Coin group sells $1.5 million tokens, creating bearish pressure amid a 21% price increase.

The meme coin Melania ( MELANIA ) has once again raised concerns as blockchain analysts discovered that the team behind this coin has sold over $1.5 million worth of MELANIA in the past three days. A strong sell-off, occurring in a manner similar to what has been seen over the past month, raises questions about insider manipulation and the future trajectory of the tokens. According to Lookonchain, the Melania group not only manipulates liquidity but also implements a dollar-cost averaging strategy (DCA) calculated to sell a large amount of tokens in several smaller batches, preventing a sharp price decline while still maintaining continuous selling pressure. In the latest sale, the team sold about 632,000 dollars worth of MELANIA two days ago, followed by another 938,000 dollars today, bringing the total amount to over 1.5 million dollars. Blockchain data from Solscan shows that this group has distributed sales into multiple wallets, including addresses like 38zTv and 9sVRG. This strategic sell-off occurred even as the price of MELANIA has recovered 21% over the past week.

Despite the skyrocketing price, MELANIA is still about 96% lower than its all-time high of $13.70, which was briefly reached on January 20, coinciding with the inauguration of President Donald Trump. However, the sell-off by the Melania group is not an isolated incident. On April 20th, blockchain analyst EmberCN reported that the group sold 23.45 million MELANIA tokens worth about 14.75 million dollars last month. They carry out these transactions through both centralized exchanges and manipulate liquidity on decentralized platforms, such as Meteora. On April 19 alone, the group sold 2.95 million tokens for 9,009 SOL, worth approximately 1.2 million dollars. Such a strong sell-off has impacted market confidence. Sell-off deeper and related to previous scandals The continuous selling has raised concerns about the possibility of this currency being withdrawn from the market, a concern that has surrounded the meme coin Melania since its inception. In February, the blockchain analysis company Bubblemaps discovered on-chain evidence linking the Melania project with the controversial Libra token (LIBRA). Analysts assert that the same wallet, 0xcEA, is involved in both projects, indicating that this is an internal coordinated effort to manipulate the token launch for enormous profits. According to Bubblemaps, wallet 0xcEA aggressively attacked the MELANIA launch on January 19, quickly reaping a profit of 2.4 million dollars, which was washed through multiple Solana wallets into Avalanche. A few weeks later, this very wallet funded the launch of the LIBRA token, which also collapsed shortly after insiders were reported to have withdrawn 107 million dollars. The collapse of the LIBRA token occurred quickly and devastatingly. Just four hours after its launch, the value of the token plummeted by 94%. MELANIA also faced a similar situation. After reaching an astonishing market capitalization of 13 billion dollars at its peak, the value of MELANIA has plummeted by 99%, leaving most initial investors with nothing. These findings suggest a behavioral pattern in which participants create hype around politically themed meme coins, driving prices up sharply and then quickly selling off their holdings, causing significant losses for retail investors. The Meme currency sector is facing headwinds amid changing market conditions. The broader meme coin market is facing increasing pressure. Although the report on April 25 indicates that the market is recovering, it has regained a market capitalization of 60 billion. However, the launch and subsequent poor performance of popular tokens such as TRUMP and MELANIA may have burst the meme coin bubble. The dwindling enthusiasm indicates that investors may be shifting their focus to newer narratives or becoming increasingly cautious about the risks associated with politically themed meme projects. The struggles are not limited to MELANIA. The TRUMP token, another prominent political meme project, has also seen a significant drop, from a peak price of $75.35 to just $8.14 within three months. Although TRUMP has recently shown signs of recovery thanks to the unlocking event releasing 40 million tokens worth over 300 million dollars and the recent announcement of a private dinner with President Donald Trump attended by the largest token holders. Although the market is generally stable, the Melania token continues to perform poorly. In the past 24 hours, the price of MELANIA has decreased by an additional 5%, underperforming compared to other meme coins.