Melania Trump, the First Lady of the US, has made a comeback in promoting her Solana-based memecoin, MelaniaMeme (MELANIA), after several months of silence, despite ongoing concerns regarding millions in unexplained token sales.
In a post on Thursday on X platform, Trump shared an AI-generated video endorsing the Official MelaniaMeme token as a way to move “into the future,” tagging the official X account of the memecoin.
However, blockchain analysts quickly pointed out that the promotion failed to address issues surrounding token sales executed by team wallets.
“Melania Trump won’t comment on the $10M worth of community tokens sold by team wallets. Just posting an AI video after 10 months of silence,” remarked the blockchain data visualization platform Bubblemaps in a Thursday X post.
On April 7, the MELANIA token team transferred $30 million in community funds that were “quietly sold, without explanation from the team,” as per blockchain data shared by Bubblemaps.
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Additionally, the team sold another $1.5 million worth of tokens in the three days leading up to April 28, after a 21% price surge in the preceding week.
The selling strategies indicated dollar-cost averaging (DCA), a method of investing where a fixed amount of an asset is bought or sold at regular intervals, as per crypto intelligence platform Lookonchain.
Cointelegraph has reached out to both President Donald Trump and the First Lady’s offices for comments.
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Melania token down 98% from all-time high
The MELANIA token has nearly lost its entire value since its launch in January. Currently, it trades at $0.18, which is more than 90% down from its launch and 98% from its peak of $13.73, according to CoinMarketCap.
One of the founders of the Libra (LIBRA) token, Hayden Davis, was also involved in creating the MELANIA token and several other memecoins of the 2025 cycle.
In March, Davis launched a Wolf of Wall Street-themed memecoin with an insider supply exceeding 80%, which resulted in the token plummeting by 99% within just two days.
This occurred a few weeks after the Libra token’s downfall, where eight insider wallets liquidated $107 million in liquidity, leading to a $4 billion market cap loss in mere hours.
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