Solana-Based MELANIA Token Faces Insider Dumping Amid 98% Price Collapse
The Solana-based MELANIA memecoin project is under intense scrutiny as insiders have reportedly dumped $35 million worth of tokens, leading to a dramatic 98% price collapse. Blockchain data reveals that 82.18 million MELANIA tokens were sold over four months through 44 wallets, converting holdings into 244,934 SOL. This mass sell-off has accelerated the token's decline from its peak price of $13. Analysis by Lookonchain and Bubblemaps highlights a consistent pattern of liquidity pool withdrawals since March, with over 90% of the supply controlled by insiders. The situation raises concerns about the sustainability and transparency of the project, casting a shadow over its future prospects in the volatile memecoin market.
Melania Token Team Dumps $35M in SOL Amid 98% Price Collapse
The Solana-based MELANIA memecoin project faces mounting scrutiny as insiders offloaded 82.18 million tokens worth $35.76 million over four months. Blockchain data reveals these sales—executed through 44 wallets—converted holdings into 244,934 SOL, accelerating the token's 98% plunge from its $13 peak.
Lookonchain's analysis exposes a pattern of liquidity pool withdrawals since March, with Bubblemaps identifying over 90% of supply concentrated in team-linked wallets. The persistent sell pressure leaves little hope for recovery, with MELANIA now trading NEAR $0.20.
Solana Enhances Security with New Validator Accountability Tools
Marinade Finance, a leading protocol within Solana's ecosystem, has rolled out a suite of tools aimed at curbing validator misconduct. The measures target sandwich attacks—a predatory tactic where validators exploit transaction ordering to profit at traders' expense. Blacklisting capabilities and slashing mechanisms now penalize bad actors, reinforcing trust in Solana's staking infrastructure.
Sandwich attacks thrive on speed and opacity. Validators insert buy-sell orders around user transactions, capitalizing on artificial price movements. Retail traders often only recognize the manipulation when receiving unfavorable trade execution. Solana's proactive stance reflects a broader industry tension between decentralization and accountability.
Solana Positioned to Lead 'Tokenization of Everything' as Institutional Interest Grows
Solana's SOL token dipped 0.62% to $144.04 amid heightened trading activity, following a session high of $147.73. The movement coincides with Syncracy Capital Co-Founder Ryan Watkins' reaffirmation of Solana's pivotal role in crypto's future.
Watkins, whose firm specializes in concentrated crypto investments, doubled down on his May prediction framing Solana versus Hyperliquid as crypto's defining battle. His June 25 X post now positions Solana to spearhead asset tokenization while Hyperliquid dominates perpetual futures markets.
Institutional momentum builds as CME's SOL futures volume hits a record 1.75 million contracts. The surge suggests sophisticated investors are deepening commitments despite cooling price action from recent highs.
Solana Network Achieves Record Growth Amid Developer Surge
Solana's blockchain network is accelerating at an unprecedented pace, marked by explosive growth in network activity and developer adoption. The platform has processed up to 200 million daily transactions, with decentralized exchange volume peaking at $398 billion. Liquidity inflows reached $200 million, while new wallet downloads surpassed 400,000.
Network reliability remains flawless, maintaining 100% uptime for over 15 consecutive months. App revenue growth tells a compelling story—crossing the $1 billion threshold after steady increases since Q3 2023. This revenue surge reflects thriving economic activity and increased funding within the ecosystem.
Stress tests from sustained high activity revealed optimization opportunities. Engineers have already implemented an 80% boost in fee throughput. The network's performance metrics and developer momentum position solana as a formidable layer-1 contender.
