The First Lady of the United States, Melania Trump, has reinitiated her promotion of the Solana-based memecoin, MelaniaMeme (MELANIA), after a prolonged absence, despite ongoing concerns regarding unexplained token sales amounting to millions of dollars.
In a Thursday X post, Trump presented an A.I.-generated video advocating for the Official MelaniaMeme token as a way “into the future,” while tagging the official X account of the memecoin.
Nevertheless, blockchain analysts quickly pointed out that the promotion failed to address the issues surrounding token sales by team wallets.
“Melania Trump won’t discuss the $10M in community tokens sold by team wallets. Just post an AI video after 10 months of silence,” remarked 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 reportedly sold without any explanation from the team, as per blockchain data shared by Bubblemaps.
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Additionally, the token’s team sold another $1.5 million in tokens during the three days before April 28, coinciding with a 21% price spike the previous week.
The selling patterns suggested a dollar-cost averaging (DCA) strategy, which involves purchasing or selling a fixed amount of an asset at predetermined intervals, according to crypto intelligence platform Lookonchain.
Cointelegraph has contacted the offices of President Donald Trump and the First Lady for their comments.
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Melania token down 98% from all-time high
The MELANIA token has almost entirely lost its value since its launch in January, trading at $0.18 at the time of this writing, down over 90% from its initial launch price and 98% from its highest value of $13.73, according to CoinMarketCap.
Hayden Davis, one of the founders behind the Libra (LIBRA) token, was also a co-creator of the MELANIA token, along with various other memecoins from the 2025 cycle.
In March, Davis introduced a Wolf of Wall Street-themed memecoin with an insider supply of over 80%, which resulted in the token plummeting by 99% within just two days.
This followed shortly after the collapse of the Libra token, during which eight insider wallets withdrew $107 million in liquidity, causing a $4 billion market cap loss in a matter of hours.
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