Key Notes
- These sales, strategically conducted through liquidity management rather than open market orders, have raised concerns over transparency and tokenomics.
- MELANIA's official documentation acknowledges that the token lacks functionality, with no reinvestment plans for product development or ecosystem growth.
- Despite the recent Wintermute partnership to boost liquidity, MELANIA's price has dropped by 59% in the last 60 days.
Latest on-chain data shows that the team behind MELANIA MELANIA $0.21 24h volatility: 3.4% Market cap: $127.51 M Vol. 24h: $9.56 M meme coin has sold off a total of 82 million tokens, worth $35 million, over the past four months.
This accounts for nearly 8.22% of the total supply of the meme coin named after the former U.S. First Lady. During the sell-off period, MELANIA’s price dropped sharply from $1.22 to $0.20, marking an 80% decline since the team began offloading tokens.
MELANIA Team Selling Meme Coins Triggers Negative Sentiment
According to the blockchain analytics platform LookonChain, the official team behind MELANIA meme coin sold $35 million worth of tokens across 44 wallets. The team also sold the tokens in a way that avoided direct scrutiny from the crypto community.
The #Melania meme team sold 82.18M $MELANIA(8.22% of total supply) over the past 4 months across 44 wallets, cashing out 244,934 $SOL ($35.76M).
Most of the $MELANIA tokens were sold through adding and removing liquidity. https://t.co/EJYWtbB5aE pic.twitter.com/gtmRdkNq1y
— Lookonchain (@lookonchain) June 25, 2025
The report from Lookonchain notes that the team strategically added and removed liquidity instead of using open market sell orders, resulting in net proceeds of 244,934 SOL. At the current Solana SOL $144.0 24h volatility: 0.7% Market cap: $76.95 B Vol. 24h: $3.58 B price of $150, the 244,934 SOL in proceeds equates to approximately $35 million worth of tokens sold.
The crypto community has raised significant concerns about transparency and tokenomics, especially in light of the project’s stagnant development. Reports of insider dumping of the MELANIA meme coin first came in April.
Even more troubling, the MELANIA project’s official documentation openly acknowledges these issues. The terms explicitly state that the token has “no functionality,” with no plans to reinvest proceeds into product development, user engagement, or ecosystem growth.
This effectively classifies the MELANIA token as a purely speculative meme coin with no utility, making its sustained market capitalization of $127 million particularly perplexing.
Partnership With Wintermute Fails to Gather Momentum
In early June, the MELANIA meme coin team announced a promising partnership with top market maker Wintermute.
MELANIA Meme ( https://t.co/S2km4bxIMT ) ($MELANIA) has entered into an agreement with Wintermute to provide liquidity.
Holders will notice movement of the $MELANIA tokens to new wallets.
Further, the $MELANIA team is launching a new website for $MELANIA.
— MelaniaMeme (@TrueMELANIAmeme) June 3, 2025
According to data from EmberCN, 150 million MELANIA tokens, valued at approximately $50 million at the time, were transferred from the community wallet to various new addresses, including 20 million tokens directed to Wintermute’s wallet. The objective was to enhance liquidity, minimize price slippage, and foster a more stable trading environment.
在特朗普老婆的 Memecoin $MELANIA 宣布跟 Wintermute 达成做市合作后，他们转移了社区钱包中的 1.5 亿枚 $MELANIA ($50M)，然后将其中 2000 万枚 ($6.62M) 转给了 Wintermute。
地址链接🔗👉： https://t.co/CJ4rEWhzQ2
本文由 #Bitget ｜ @Bitget_zh 赞助 https://t.co/vhwldBJF3r pic.twitter.com/RhXT9QmFjL
— 余烬 (@EmberCN) June 4, 2025
Although the partnership with Wintermute improved liquidity across trading platforms, it was not enough to reverse the downward trend. Over the past 60 days, MELANIA has experienced a 59% decline.
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