US First Lady Melania Trump has restarted her promotion of the Solana-based memecoin, MelaniaMeme (MELANIA), after months of being quiet, despite ongoing concerns regarding millions in unaccounted token sales.
In a Thursday X post, Trump shared an AI-generated video that promotes the Official MelaniaMeme token as the way “into the future,” while tagging the memecoin’s official X account.
However, blockchain analysts quickly pointed out that the promotion failed to address concerns surrounding sales of tokens from team wallets.
“Melania Trump won’t address the $10M of community tokens sold by team wallets. Just post an AI video after 10 months of silence,” noted the blockchain data visualization platform Bubblemaps in a Thursday X post.
On April 7, the MELANIA token team transferred $30 million worth of community funds that had been “quietly sold, with no clarification from the team,” according to blockchain data shared by Bubblemaps.
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Additionally, the token team sold another $1.5 million in tokens within three days leading up to April 28, following a 21% price increase the previous week.
The selling activity indicated dollar-cost averaging (DCA), an investment strategy used to buy or sell a consistent amount of an asset at fixed intervals, according to the crypto intelligence platform Lookonchain.
Cointelegraph has contacted the offices of President Donald Trump and the First Lady for comments.
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Melania token down 98% from all-time high
Since its launch in January, the MELANIA token has nearly lost all its value. Currently trading at $0.18, it has decreased by more than 90% from its launch price and 98% from its all-time high of $13.73, according to CoinMarketCap.
One of the founders of the Libra (LIBRA) token, Hayden Davis, was also a co-creator of the MELANIA token and several other memecoins from the 2025 cycle.
In March, Davis launched a Wolf of Wall Street-themed memecoin with an insider supply of over 80%, which caused the token to plummet by 99% within two days.
This occurred shortly after the collapse of the Libra token, where eight insider wallets withdrew $107 million in liquidity, resulting in a $4 billion market cap loss in hours.
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