The Melania Meme Coin ($MELANIA) saga continues to unfold, with fresh developments raising eyebrows in the crypto community.
Melania Meme Coin Update
Blockchain analytics firm Bubblemaps recently reported that the $MELANIA team executed a massive sell-off, moving $30 million worth of tokens, equivalent to 50 million $MELANIA, from community funds to a wallet labeled “Cq2Tj6.”
From there, the funds were split across multiple addresses, with over $3 million hitting exchanges and $500,000 already sold. The token’s value has since plummeted, now down 95.4% from its peak, leaving investors scrambling.
This isn’t the first sign of trouble.
Earlier reports from Bubblemaps highlighted suspicious activity, including $2 million withdrawn from liquidity pools and $1 million sent to exchanges in recent weeks.
The lack of transparency from the $MELANIA team has fueled speculation of a “rug pull,” where developers cash out at the expense of holders.
With team wallets reportedly controlling 92% of the token supply, the project’s structure has long raised red flags.
The latest sell-off follows a pattern of volatility that has defined the token since its launch on the Solana blockchain. Marketed as a symbol of support for Melania Trump, it rode a wave of hype before crashing amid insider trading allegations and waning interest.
For now, the silence from the team only deepens the uncertainty. Investors are left with a stark warning: in the wild world of memecoins, even a high-profile name offers no guarantee.
Stay cautious, and stay tuned with MevX, this story’s far from over.
