MELANIA Meme Coin Holders Bail: $4.6M Sell-Off Triggers Price Nosedive

Whales dump bags as the political-themed token tanks—because nothing says ’stable investment’ like meme coins tied to election cycles.

Key details: Wallets linked to early backers unloaded 9 figures worth of MELANIA tokens in coordinated sells, crashing the price 38% in 12 hours. On-chain data shows the dump originated from just 3 addresses—classic ’pump and dump’ behavior.

The irony? This happened while the actual Melania Trump NFT collection saw record trading volume. Maybe stick to JPEGs, folks.

MELANIA-Linked Wallets Offload $23 Million in Tokens Since March

These sales amounted to nearly $4.6 million, raising strong concerns over the project’s long-term viability and team motives.

According to EmberCN, the sales followed a Dollar-Cost Averaging (DCA) strategy alongside unilateral liquidity provision. These techniques allowed the project to reduce price impact while quietly exiting large positions.

Notably, this is not the first time the project has utilized this approach. In April, the same wallets sold 3 million tokens in exchange for about 9,009 SOL—roughly $1.2 million at the time—employing a similar liquidation approach.

Meanwhile, these selling activities have been ongoing for a long time. Since mid-March, the wallets have quietly liquidated around 41.67 million MELANIA tokens for around 170,000 SOL, worth approximately $23 million.

EmberCN pointed out that most of these proceeds appear to have been converted to USDC and withdrawn. This suggests an ongoing effort by the project’s team to exit their significant positions in the token.

The repeated and large-scale token sales by wallets tied to the project have fueled suspicions among holders.

Many now question whether the meme coin was ever designed for long-term utility or merely crafted to capitalize on the name recognition of the US first lady.

MELANIA launched in January 2025 amid media buzz, spurred by its branding and the timing of President Donald Trump’s inauguration. However, that early momentum has rapidly faded amid a broader market lull that significantly impacted meme coins.

According to BeInCrypto data, the token trades at roughly $0.38, down more than 6% over the past day and 31% in the last seven days.

More notably, MELANIA has plunged approximately 97% from its January 20 peak of $13.70.